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Sample records for american put options

  1. Application of Compound Options in the Evaluation of American Puts

    Directory of Open Access Journals (Sweden)

    Mauro Antonio Rincon

    2006-12-01

    Full Text Available In this article, a numerical method is developed to determine the value of a put, based in the solution of Black and Scholes (1973 for European option and on Richardson extrapolation that calculates the limit of an options sequence, whose time intervals tend to zero. In the beginning of the 70s, Black and Scholes (1973 and Merton (1973 they had developed partial differential equation, whose solution it determines the value of an European option. The boundary condition will go to determine the type of option (purchase or sale. Values for the put are calculated, priced and compared with methods of the numerical integration and the binomial approach.

  2. Pricing Perpetual American Put Option in theMixed Fractional Brownian Motion

    Institute of Scientific and Technical Information of China (English)

    2015-01-01

    Under the assumption of the underlying asset is driven by the mixed fractional Brownian motion, we obtain the mixed fractionalBlack-Scholes partial differential equation by fractional Ito formula, and the pricing formula of perpetual American put option bythis partial differential equation theory.

  3. Pricing of American Put Option under a Jump Diffusion Process with Stochastic Volatility in an Incomplete Market

    Directory of Open Access Journals (Sweden)

    Shuang Li

    2014-01-01

    Full Text Available We study the pricing of American options in an incomplete market in which the dynamics of the underlying risky asset is driven by a jump diffusion process with stochastic volatility. By employing a risk-minimization criterion, we obtain the Radon-Nikodym derivative for the minimal martingale measure and consequently a linear complementarity problem (LCP for American option price. An iterative method is then established to solve the LCP problem for American put option price. Our numerical results show that the model and numerical scheme are robust in capturing the feature of incomplete finance market, particularly the influence of market volatility on the price of American options.

  4. Valuation for an American Continuous-Installment Put Option on Bond under Vasicek Interest Rate Model

    Directory of Open Access Journals (Sweden)

    Guoan Huang

    2009-01-01

    of the price of this option, integral representations of both the optimal stopping and exercise boundaries are derived. A numerical method is used to approximate the optimal stopping and exercise boundaries by quadrature formulas. Numerical results and discussions are provided.

  5. THE VALUATION OF AMERICAN PUT OPTIONS WITH STOCHASTIC VOLATILITY%随机波动率的美式期权定价

    Institute of Scientific and Technical Information of China (English)

    梅正阳; 李楚霖

    2002-01-01

    本文利用随机波动率状态有限Markov链,通过有限差分方法计算美式期权的价值.这种方法既避免了建立复杂的随机波动率模型,又较大程度地改进了常数波动率的计算结果,获得与真实结果比较接近数值解,推广了二项式概率树模型.%In this paper, by using finite difference method, set up the valuation of American put option model with stochastic volatility of finite Markov chains, obtained the values of American put option, that improved the results of constant volatility model and binomial probability tree model. The illustration shows that the value calculated by our model and algorithm approaches the real price closer more.

  6. Analytic American Option Pricing and Applications

    NARCIS (Netherlands)

    Sbuelz, A.

    2003-01-01

    I use a convenient value breakdown in order to obtain analytic solutions for finitematurity American option prices.Such a barrier-option-based breakdown yields an analytic lower bound for the American option price, which is as price-tight as the Barone-Adesi and Whaley (1987) analytic value proxy fo

  7. The Early Exercise Premium Representation for American Options on Multiply Assets

    Energy Technology Data Exchange (ETDEWEB)

    Klimsiak, Tomasz, E-mail: tomas@mat.umk.pl; Rozkosz, Andrzej, E-mail: rozkosz@mat.umk.pl [Nicolaus Copernicus University, Faculty of Mathematics and Computer Science (Poland)

    2016-02-15

    In the paper we consider the problem of valuation of American options written on dividend-paying assets whose price dynamics follow the classical multidimensional Black and Scholes model. We provide a general early exercise premium representation formula for options with payoff functions which are convex or satisfy mild regularity assumptions. Examples include index options, spread options, call on max options, put on min options, multiply strike options and power-product options. In the proof of the formula we exploit close connections between the optimal stopping problems associated with valuation of American options, obstacle problems and reflected backward stochastic differential equations.

  8. New Methods with Capped Options for Pricing American Options

    Directory of Open Access Journals (Sweden)

    Dongya Deng

    2014-01-01

    Full Text Available We propose two new methods: improved binomial methods and improved least square MonteCarlo methods (LSM, for pricing American options. These two methods are developed using the nice capped options which have closed-form formulas. Numerical examples are provided to verify that these two new methods are pretty efficient.

  9. Bounds for the American perpetual put on a stock index

    OpenAIRE

    Paulsen, V.

    2001-01-01

    Let us consider n stocks with dependent price processes each following a geometric Brownian motion. We want to investigate the American perpetual put on an index of those stocks. We will provide inner and outer boundaries for its early exercise region by using a decomposition technique for optimal stopping.

  10. Valuation of Discrete Barrier American Options

    Directory of Open Access Journals (Sweden)

    Carlos Patrício Samanez

    2009-09-01

    Full Text Available This article presents an approach and a model to valuing discrete barrier American options. The developed model consists of an adaptation of the method of Grant, Vora and Weeks (1997, in order to allow to incorporate the barriers. The Hybrid Quasi-Monte Carlo method was used in the simulations and the Bisection method in the definition of the options trigger curves. The results found in the application of the developed model were compared with the estimated by the Adaptive Mesh Model, developed by Ahn et al (1999. In addition, the sensitivity of the options price relative to changes in inputs parameters was analyzed, confirming the consistence of the model.

  11. Compact finite difference method for American option pricing

    Science.gov (United States)

    Zhao, Jichao; Davison, Matt; Corless, Robert M.

    2007-09-01

    A compact finite difference method is designed to obtain quick and accurate solutions to partial differential equation problems. The problem of pricing an American option can be cast as a partial differential equation. Using the compact finite difference method this problem can be recast as an ordinary differential equation initial value problem. The complicating factor for American options is the existence of an optimal exercise boundary which is jointly determined with the value of the option. In this article we develop three ways of combining compact finite difference methods for American option price on a single asset with methods for dealing with this optimal exercise boundary. Compact finite difference method one uses the implicit condition that solutions of the transformed partial differential equation be nonnegative to detect the optimal exercise value. This method is very fast and accurate even when the spatial step size h is large (h[greater-or-equal, slanted]0.1). Compact difference method two must solve an algebraic nonlinear equation obtained by Pantazopoulos (1998) at every time step. This method can obtain second order accuracy for space x and requires a moderate amount of time comparable with that required by the Crank Nicolson projected successive over relaxation method. Compact finite difference method three refines the free boundary value by a method developed by Barone-Adesi and Lugano [The saga of the American put, 2003], and this method can obtain high accuracy for space x. The last two of these three methods are convergent, moreover all the three methods work for both short term and long term options. Through comparison with existing popular methods by numerical experiments, our work shows that compact finite difference methods provide an exciting new tool for American option pricing.

  12. A NOTE ON THE VALUATION OF AMERICAN OPTION

    Institute of Scientific and Technical Information of China (English)

    边保军; 姜礼尚

    2003-01-01

    American options give holder a right to exercise it at any time at will,the holder should to make the exercise policy in such a way that the expected payoff from the option will be maximized. In this note we prove that it is equivalent to a fact which makes the option value and option delta continuous.

  13. Optimal convergence rate of the explicit finite difference scheme for American option valuation

    Science.gov (United States)

    Hu, Bei; Liang, Jin; Jiang, Lishang

    2009-08-01

    An optimal convergence rate O([Delta]x) for an explicit finite difference scheme for a variational inequality problem is obtained under the stability condition using completely PDE methods. As a corollary, a binomial tree scheme of an American put option (where ) is convergent unconditionally with the rate O(([Delta]t)1/2).

  14. NUMERICAL ANALYSIS ON BINOMIAL TREE METHODS FOR AMERICAN LOOKBACK OPTIONS

    Institute of Scientific and Technical Information of China (English)

    戴民

    2001-01-01

    Lookback options are path-dependent options. In general, the binomial tree methods,as the most popular approaches to pricing options, involve a path dependent variable as well as the underlying asset price for lookback options. However, for floating strike lookback options, a single-state variable binomial tree method can be constructed. This paper is devoted to the convergence analysis of the single-state binomial tree methods both for discretely and continuously monitored American floating strike lookback options. We also investigate some properties of such options, including effects of expiration date, interest rate and dividend yield on options prices,properties of optimal exercise boundaries and so on.

  15. A new numerical method on American option pricing

    Institute of Scientific and Technical Information of China (English)

    顾永耕; 舒继武; 邓小铁; 郑纬民

    2002-01-01

    Mathematically, the Black-Scholes model of American option pricing is a free boundary problem of partial differential equation. It is well known that this model is a nonlinear problem, and it has no closed form solution. We can only obtain an approximate solution by numerical method, but the precision and stability are hard to control, because the singularity at the exercise boundary near expiration date has a great effect on precision and stability for numerical method. We propose a new numerical method, FDA method, to solve the American option pricing problem, which combines advantages the Semi-Analytical Method and the Front-Fixed Difference Method. Using the FDA method overcomes the difficulty resulting from the singularity at the terminal of optimal exercise boundary. A large amount of calculation shows that the FDA method is more accurate and stable than other numerical methods.

  16. A Reduced Basis Method for the Simulation of American Options

    CERN Document Server

    Haasdonk, Bernard; Wohlmuth, Barbara

    2012-01-01

    We present a reduced basis method for the simulation of American option pricing. To tackle this model numerically, we formulate the problem in terms of a time dependent variational inequality. Characteristic ingredients are a POD-greedy and an angle-greedy procedure for the construction of the primal and dual reduced spaces. Numerical examples are provided, illustrating the approximation quality and convergence of our approach.

  17. Canonical Least-Squares Monte Carlo Valuation of American Options: Convergence and Empirical Pricing Analysis

    Directory of Open Access Journals (Sweden)

    Xisheng Yu

    2014-01-01

    Full Text Available The paper by Liu (2010 introduces a method termed the canonical least-squares Monte Carlo (CLM which combines a martingale-constrained entropy model and a least-squares Monte Carlo algorithm to price American options. In this paper, we first provide the convergence results of CLM and numerically examine the convergence properties. Then, the comparative analysis is empirically conducted using a large sample of the S&P 100 Index (OEX puts and IBM puts. The results on the convergence show that choosing the shifted Legendre polynomials with four regressors is more appropriate considering the pricing accuracy and the computational cost. With this choice, CLM method is empirically demonstrated to be superior to the benchmark methods of binominal tree and finite difference with historical volatilities.

  18. Volatility and dividend risk in perpetual American options

    Science.gov (United States)

    Montero, Miquel

    2007-04-01

    American options are financial instruments that can be exercised at any time before expiration. In this paper we study the problem of pricing this kind of derivatives within a framework in which some of the properties—volatility and dividend policy—of the underlaying stock can change at a random instant of time, but in such a way that we can forecast their final values. Under this assumption we can model actual market conditions because some of the most relevant facts that may potentially affect a firm will entail sharp predictable effects. We will analyse the consequences of this potential risk on perpetual American derivatives, a topic connected with a wide class of recurrent problems in physics: holders of American options must look for the fair price and the optimal exercise strategy at once, a typical question of free absorbing boundaries. We present explicit solutions to the most common contract specifications and derive analytical expressions concerning the mean and higher moments of the exercise time.

  19. Parallel Binomial American Option Pricing with (and without) Transaction Costs

    CERN Document Server

    Zhang, Nan; Zastawniak, Tomasz

    2011-01-01

    We present a parallel algorithm that computes the ask and bid prices of an American option when proportional transaction costs apply to the trading of the underlying asset. The algorithm computes the prices on recombining binomial trees, and is designed for modern multi-core processors. Although parallel option pricing has been well studied, none of the existing approaches takes transaction costs into consideration. The algorithm that we propose partitions a binomial tree into blocks. In any round of computation a block is further partitioned into regions which are assigned to distinct processors. To minimise load imbalance the assignment of nodes to processors is dynamically adjusted before each new round starts. Synchronisation is required both within a round and between two successive rounds. The parallel speedup of the algorithm is proportional to the number of processors used. The parallel algorithm was implemented in C/C++ via POSIX Threads, and was tested on a machine with 8 processors. In the pricing ...

  20. Pricing of perpetual American and Bermudan options by binomial tree method

    Institute of Scientific and Technical Information of China (English)

    LIN Jianwei; LIANG Jin

    2007-01-01

    In this paper, we consider the binomial tree method for pricing perpetual American and perpetual Bermudan options. The closed form solutions of these discrete models are solved. Explicit formulas for the optimal exercise boundary of the perpetual American option is obtained.A nonlinear equation that is satisfied by the optimal exercise boundaries of the perpetual Bermudan option is found.

  1. FINITE DIFFERENCE APPROXIMATION FOR PRICING THE AMERICAN LOOKBACK OPTION

    Institute of Scientific and Technical Information of China (English)

    Tie Zhang; Shuhua Zhang; Danmei Zhu

    2009-01-01

    In this paper we are concerned with the pricing of lookback options with American type constrains. Based on the differential linear complementary formula associated with the pricing problem, an implicit difference scheme is constructed and analyzed. We show that there exists a unique difference solution which is unconditionally stable. Using the notion of viscosity solutions, we also prove that the finite difference solution converges uniformly to the viscosity solution of the continuous problem. Furthermore, by means of the variational inequality analysis method, the (O)(△t+△x2)-order error estimate is derived in the discrete L2-norm provided that the continuous problem is sufficiently regular. In addition, a numerical example is provided to illustrate the theoretical results.Mathematics subject classification: 65M12, 65M06, 91B28.

  2. Numerical Methods for Pricing American Options with Time-Fractional PDE Models

    National Research Council Canada - National Science Library

    Zhou, Zhiqiang; Gao, Xuemei

    2016-01-01

      In this paper we develop a Laplace transform method and a finite difference method for solving American option pricing problem when the change of the option price with time is considered as a fractal...

  3. 快扩散过程下永久美式看跌期权的定价%Pricing of Perpetual American Put with Fast Diffusion Process

    Institute of Scientific and Technical Information of China (English)

    彭大衡

    2012-01-01

    研究标的资产价格服从快扩散过程的永久美式看跌期权定价问题.首先,借助文献[3]给出标的资产价格服从快扩散过程的欧式看跌期权定价公式,然后,通过求解一个自由边界问题并利用二次逼近方法,对标的资产价格服从快扩散过程的永久美式看跌期权的价格以及实施该期权时的临界标的资产价格给出了显式解.所得结论是Black-Scholes市场中关于永久美式看跌期权定价的推广.%This paper studies the price of perpetual American put with fast diffusion process. Firstly, using literature [3], the price of European put option is given when the underlying asset follows fast diffusion process, then the closed-form solutions for pricing of perpetual American put and the critical asset price when the underlying asset's price follows fast diffusion process are obtained by solving a free boundary value problem. Results obtained here are the extension of the corresponding one in the Black-Scholes market.

  4. 结合强势卖方期权的电力远期合同模型%Modeling for electricity forward contracts combining with power put option

    Institute of Scientific and Technical Information of China (English)

    王访; 邹锐标

    2011-01-01

    随着电力市场垄断的不断减弱,区域卖方垄断市场的发电商的风险日渐明显.结合期权思想,设计了一种包含强势卖方期权的电力远期合同,以发电商期望收益最大化建模,得到了其在签订合同时应购买的强势卖方期权最优数量的解析解.通过理论研究和算例随机模拟分析,说明了这种包含强势卖方期权的电力远期合同比普通单边差价合同更具实用性,并证明了发电商通过签订该合同能提高期望收益.%With the steady decline in the electricity market monopoly, the risks of generator in regional monopoly seller market become apparent. This paper designs an electricity forward contract involving power put options based on the option theory. The analytical solution of the optimal quantity of power put options that the large power plant should reserve is calculated by modeling the maximum expectation profit. It is verified that the contracts with the put option has more practicality than general forward contracts for differences from the theoretical studies and numerical analysis, and it also improves profits of the large power plant with the power put option.

  5. Big data in healthcare: What options are there to put the patients in control of their data?

    OpenAIRE

    Gulamhussen, Amitte; Hirt, Robert; Ruckebier, Marc; Orban de Xivry, Jonathan; Marcerou, Guillaume; Melis, Jeroen; EIT Foundation Annual Innovation Forum

    2013-01-01

    Despite of the significant improvement in life expectancy over the past 50 years there are several growing challenges that are putting pressure on the sustainability of EU healthcare systems. This unparalleled situation is offering the right momentum to rethink business models on healthcare systems which require a new strategic approach shifting from a volume to a performance based model- value for money. Currently big data does not efficiently contribute for improving healthcare. In an incre...

  6. Homeschooling: A Growing Option in American Education. Backgrounder. No. 2122

    Science.gov (United States)

    Lips, Dan; Feinberg, Evan

    2008-01-01

    A growing number of American families are choosing to homeschool their children. While research evidence is limited, evaluations of student outcomes suggest that homeschooling is successful for participating students: They do well in their learning environment, perform as well on national college assessment tests as traditional high school…

  7. Assessing the options for local government to use legal approaches to combat obesity in the UK: putting theory into practice.

    Science.gov (United States)

    Mitchell, C; Cowburn, G; Foster, C

    2011-08-01

    The law is recognized as a powerful tool to address some of the structural determinants of chronic disease, including 'obesogenic' environments which are a major factor in the increasing prevalence of obesity worldwide. However, it is often local - as opposed to national - government that has responsibility for an environment, including the built environment, and their role in reducing obesity using law remains relatively unexplored. With the English government shifting emphasis for improvement of public health from central to local government, this paper reviews the potential for regulatory action by local government to reduce obesity. We took a novel approach to assess the evidence and to identify legal options for implementation by local government: conducting reviews of literature, media reports and case law. Our results provide a clear rational for regulatory intervention that encourages a real choice of behaviour. They highlight strategic legal areas for reduction of obesity through restriction of traffic and promotion of active travel, promotion of access to healthy food and construction of a sustainable and active environment. Importantly, we identify current legal mechanisms for adoption by UK local government including the use of planning, licensing and transport legislation to develop local obesity prevention policy.

  8. Putting climate impact estimates to work: the empirical approach of the American Climate Prospectus

    Science.gov (United States)

    Jina, A.; Hsiang, S. M.; Kopp, R. E., III; Rasmussen, D.; Rising, J.

    2014-12-01

    The American Climate Prospectus (ACP), the technical analysis underlying the Risky Business project, quantitatively assesses climate risks posed to the United States' economy in a number of sectors [1]. Four of these - crop yield, crime, labor productivity, and mortality - draw upon research which identifies social impacts using contemporary variability in climate. We first identify a group of rigorous studies that use climate variability to identify responses to temperature and precipitation, while controlling for unobserved differences between locations. To incorporate multiple studies from a single sector, we employ a meta-analytical approach that draws on Bayesian methods commonly used in medical research and previously implemented in [2]. We generate a series of aggregate response functions for each sector using this meta-analytical method. We combine response functions with downscaled physical climate projections to estimate climate impacts out to the end of the century, incorporating uncertainty from statistical estimates, weather, climate models, and different emissions scenarios. Incorporating multiple studies in a single estimation framework allows us to directly compare impacts across the economy. We find that increased mortality has the largest effect on the US economy, followed by costs associated with decreased labor productivity. Agricultural losses and increases in crime contribute lesser but nonetheless substantial costs, and agriculture, notably, shows many areas benefitting from projected climate changes. The ACP also presents results throughout the 21stcentury. The dynamics of each of the impact categories differs, with, for example, mortality showing little change until the end of the century, but crime showing a monotonic increase from the present day. The ACP approach can expand to include new findings in current sectors, new sectors, and new geographical areas of interest. It represents an analytical framework that can incorporate empirical

  9. Numerical Methods for Pricing American Options with Time-Fractional PDE Models

    Directory of Open Access Journals (Sweden)

    Zhiqiang Zhou

    2016-01-01

    Full Text Available In this paper we develop a Laplace transform method and a finite difference method for solving American option pricing problem when the change of the option price with time is considered as a fractal transmission system. In this scenario, the option price is governed by a time-fractional partial differential equation (PDE with free boundary. The Laplace transform method is applied to the time-fractional PDE. It then leads to a nonlinear equation for the free boundary (i.e., optimal early exercise boundary function in Laplace space. After numerically finding the solution of the nonlinear equation, the Laplace inversion is used to transform the approximate early exercise boundary into the time space. Finally the approximate price of the American option is obtained. A boundary-searching finite difference method is also proposed to solve the free-boundary time-fractional PDEs for pricing the American options. Numerical examples are carried out to compare the Laplace approach with the finite difference method and it is confirmed that the former approach is much faster than the latter one.

  10. American Option Pricing using GARCH models and the Normal Inverse Gaussian distribution

    DEFF Research Database (Denmark)

    Stentoft, Lars Peter

    In this paper we propose a feasible way to price American options in a model with time varying volatility and conditional skewness and leptokurtosis using GARCH processes and the Normal Inverse Gaussian distribution. We show how the risk neutral dynamics can be obtained in this model, we interpre....... In particular, improvements are found when considering the smile in implied standard deviations....

  11. Penalty methods for the numerical solution of American multi-asset option problems

    Science.gov (United States)

    Nielsen, Bjørn Fredrik; Skavhaug, Ola; Tveito, Aslak

    2008-12-01

    We derive and analyze a penalty method for solving American multi-asset option problems. A small, non-linear penalty term is added to the Black-Scholes equation. This approach gives a fixed solution domain, removing the free and moving boundary imposed by the early exercise feature of the contract. Explicit, implicit and semi-implicit finite difference schemes are derived, and in the case of independent assets, we prove that the approximate option prices satisfy some basic properties of the American option problem. Several numerical experiments are carried out in order to investigate the performance of the schemes. We give examples indicating that our results are sharp. Finally, the experiments indicate that in the case of correlated underlying assets, the same properties are valid as in the independent case.

  12. Using high performance computing and Monte Carlo simulation for pricing american options

    CERN Document Server

    Cvetanoska, Verche

    2012-01-01

    High performance computing (HPC) is a very attractive and relatively new area of research, which gives promising results in many applications. In this paper HPC is used for pricing of American options. Although the American options are very significant in computational finance; their valuation is very challenging, especially when the Monte Carlo simulation techniques are used. For getting the most accurate price for these types of options we use Quasi Monte Carlo simulation, which gives the best convergence. Furthermore, this algorithm is implemented on both GPU and CPU. Additionally, the CUDA architecture is used for harnessing the power and the capability of the GPU for executing the algorithm in parallel which is later compared with the serial implementation on the CPU. In conclusion this paper gives the reasons and the advantages of applying HPC in computational finance.

  13. Perpetual American vanilla option pricing under single regime change risk: an exhaustive study

    Science.gov (United States)

    Montero, Miquel

    2009-07-01

    Perpetual American options are financial instruments that can be readily exercised and do not mature. In this paper we study in detail the problem of pricing this kind of derivatives, for the most popular flavour, within a framework in which some of the properties—volatility and dividend policy—of the underlying stock can change at a random instant of time but in such a way that we can forecast their final values. Under this assumption we can model actual market conditions because most relevant facts usually entail sharp predictable consequences. The effect of this potential risk on perpetual American vanilla options is remarkable: the very equation that will determine the fair price depends on the solution to be found. Sound results are found under the optics both of finance and physics. In particular, a parallelism among the overall outcome of this problem and a phase transition is established.

  14. Latin American universities and the third mission : trends, challenges, and policy options

    OpenAIRE

    Thorn, Kristian; Soo, Maarja

    2006-01-01

    Universities in Latin America are increasingly considered instruments of social and economic development and face rising expectations in regard to supplying relevant skills, undertaking applied research, and engaging in commercial activity. The paper discusses trends and challenges within Latin American universities, as well as policy options available for strengthening their contributions to social and economic development. The so-called third mission of universities is often equated with kn...

  15. American option valuation under time changed tempered stable Lévy processes

    Science.gov (United States)

    Gong, Xiaoli; Zhuang, Xintian

    2017-01-01

    Given that the underlying assets in financial markets exhibit stylized facts such as leptokurtosis, asymmetry, clustering properties and heteroskedasticity effect, this paper presents a novel model for pricing American option under the assumptions that the stock price processes are governed by time changed tempered stable Lévy process. As this model is constructed by introducing random time changes into tempered stable (TS) processes which specially refer to normal tempered stable (NTS) distribution as well as classical tempered stable (CTS) distribution, it permits infinite jumps as well as capturing random varying time in stochastic volatility, consequently taking into account the empirical facts such as leptokurtosis, skewness and volatility clustering behaviors. We employ the Fourier-cosine technique to calculate American option and propose the improved Particle Swarm optimization (IPSO) intelligent algorithm for model calibration. To demonstrate the advantage of the constructed model, we carry out empirical research on American index option in financial markets across wide ranges of models, with the time changing normal tempered stable distribution model yielding a superior performance than others.

  16. American Option Pricing using GARCH models and the Normal Inverse Gaussian distribution

    DEFF Research Database (Denmark)

    Stentoft, Lars Peter

    In this paper we propose a feasible way to price American options in a model with time varying volatility and conditional skewness and leptokurtosis using GARCH processes and the Normal Inverse Gaussian distribution. We show how the risk neutral dynamics can be obtained in this model, we interpret...... the effect of the riskneutralization, and we derive approximation procedures which allow for a computationally efficient implementation of the model. When the model is estimated on financial returns data the results indicate that compared to the Gaussian case the extension is important. A study of the model...

  17. Approximate option pricing

    Energy Technology Data Exchange (ETDEWEB)

    Chalasani, P.; Saias, I. [Los Alamos National Lab., NM (United States); Jha, S. [Carnegie Mellon Univ., Pittsburgh, PA (United States)

    1996-04-08

    As increasingly large volumes of sophisticated options (called derivative securities) are traded in world financial markets, determining a fair price for these options has become an important and difficult computational problem. Many valuation codes use the binomial pricing model, in which the stock price is driven by a random walk. In this model, the value of an n-period option on a stock is the expected time-discounted value of the future cash flow on an n-period stock price path. Path-dependent options are particularly difficult to value since the future cash flow depends on the entire stock price path rather than on just the final stock price. Currently such options are approximately priced by Monte carlo methods with error bounds that hold only with high probability and which are reduced by increasing the number of simulation runs. In this paper the authors show that pricing an arbitrary path-dependent option is {number_sign}-P hard. They show that certain types f path-dependent options can be valued exactly in polynomial time. Asian options are path-dependent options that are particularly hard to price, and for these they design deterministic polynomial-time approximate algorithms. They show that the value of a perpetual American put option (which can be computed in constant time) is in many cases a good approximation to the value of an otherwise identical n-period American put option. In contrast to Monte Carlo methods, the algorithms have guaranteed error bounds that are polynormally small (and in some cases exponentially small) in the maturity n. For the error analysis they derive large-deviation results for random walks that may be of independent interest.

  18. The Permanent American Capped Option Pricing Based on Lévy Process%基于 Lévy 过程的永久美式封顶期权定价

    Institute of Scientific and Technical Information of China (English)

    舒展; 赵联文

    2016-01-01

    对于永久美式封顶看跌期权,就是在永久美式期权的基础上加上了如下条件:当标的资产的价格达到合约规定的下限时,期权的出售方有权按执行价格与合约下限价格的差价来回购。本文将在标的资产价格的对数收益率遵从 Lévy 过程的条件下,对永久美式封顶期权进行定价研究。主要的思路是:将这个期权定价问题转化成为最优停止问题,运用 Wiener - Hopf 因子分解来寻找最优停止规则,进而得到该期权的定价结论。%For permanent American Capped put option,it is added the following conditions based on a perma-nent American option:when the price of the underlying asset reaches the minimum price specified in the contract, the seller can buy - back option by the difference between executive price and the minimum price. This article studies the pricing problem of permanent American Capped put option in condition that logarithm returns of the underlying asset price complied with Lévy processes. The main idea is to transform this option pricing problem into an optimal stopping problem,and to apply Wiener - Hopf factorization in finding the optimal stopping rule,then conclusions of the option pricing problem can be obtained.

  19. Optimal Exercise Boundary of American Fractional Lookback Option in a Mixed Jump-Diffusion Fractional Brownian Motion Environment

    Directory of Open Access Journals (Sweden)

    Zhaoqiang Yang

    2017-01-01

    Full Text Available A new framework for pricing the American fractional lookback option is developed in the case where the stock price follows a mixed jump-diffusion fraction Brownian motion. By using Itô formula and Wick-Itô-Skorohod integral a new market pricing model is built. The fundamental solutions of stochastic parabolic partial differential equations are estimated under the condition of Merton assumptions. The explicit integral representation of early exercise premium and the critical exercise price are also given. Numerical simulation illustrates some notable features of American fractional lookback options.

  20. Putting Their Lives on the Line: Personal Narrative as Political Discourse among Japanese Petitioners in American World War II Internment

    Science.gov (United States)

    Okawa, Gail Y.

    2011-01-01

    One of the more complex and premeditated acts of covert violence during World War II concerns the American surveillance, arrest, and incarceration of thousands of resident Japanese immigrants prior to and upon the outbreak of the Pacific War. While briefly outlining the historical and political context of this mass incarceration, specifically…

  1. 双币种永久美式期权定价%Pricing of the Perpetual Quanto American Options

    Institute of Scientific and Technical Information of China (English)

    郭培栋; 陈启宏

    2013-01-01

    The pricing of the perpetual quanto American option under B—S frame is discussed,and the pricing of the options is andyzed in the domestic currency and in the foreign currency respectively.The option pricing model is established to obtaine the pricing formulas of perpetual quanto American options and the optimal exercise boundary in the two case respectively.In the last,the effects of underlying asset volatility,exchange rate volatility and their correlation coefficient on the option price and the optimal exercise strategy are analyzed through the numerical simulation.%在Black-Scholes框架下,利用无套利定价方法,建立了双币种永久美式期权的定价模型,并分析了敲定价分别以国内货币计价和国外货币计价下的双币种永久美式期权的定价问题,通过运用偏微分方程的方法得到了这两种情形下期权价格的显式解.最后通过数值模拟,分析了标的资产和汇率的波动水平以及相关系数对期权的最优执行策略和期权价格的影响.

  2. Investigating Uncertainty in Predicting Carbon Dynamics in North American Biomes: Putting Support-Effect Bias in Perspective

    Science.gov (United States)

    Dungan, Jennifer L.; Brass, Jim (Technical Monitor)

    2001-01-01

    A fundamental strategy in NASA's Earth Observing System's (EOS) monitoring of vegetation and its contribution to the global carbon cycle is to rely on deterministic, process-based ecosystem models to make predictions of carbon flux over large regions. These models are parameterized (that is, the input variables are derived) using remotely sensed images such as those from the Moderate Resolution Imaging Spectroradiometer (MODIS), ground measurements and interpolated maps. Since early applications of these models, investigators have noted that results depend partly on the spatial support of the input variables. In general, the larger the support of the input data, the greater the chance that the effects of important components of the ecosystem will be averaged out. A review of previous work shows that using large supports can cause either positive or negative bias in carbon flux predictions. To put the magnitude and direction of these biases in perspective, we must quantify the range of uncertainty on our best measurements of carbon-related variables made on equivalent areas. In other words, support-effect bias should be placed in the context of prediction uncertainty from other sources. If the range of uncertainty at the smallest support is less than the support-effect bias, more research emphasis should probably be placed on support sizes that are intermediate between those of field measurements and MODIS. If the uncertainty range at the smallest support is larger than the support-effect bias, the accuracy of MODIS-based predictions will be difficult to quantify and more emphasis should be placed on field-scale characterization and sampling. This talk will describe methods to address these issues using a field measurement campaign in North America and "upscaling" using geostatistical estimation and simulation.

  3. 具有跳扩散的美式期权二叉树计算格式的收敛速率%ON THE CONVERGENCE RATE OF THE BINOMIAL TREE SCHEME FOR AN AMERICAN OPTION WITH JUMP-DIFFUSION

    Institute of Scientific and Technical Information of China (English)

    梁进

    2008-01-01

    American put option with jump-diffusion can be modelled as a vari-ational inequality problem with an integral term.Under the stability conditionσ2△t/△x2≤1,where △x=lnSn+1/Sn,the cnvergence rate O((△)2/3+(△t1/3)of theexplicit finite scheme for this problem is obtained by using penalization technique.The binomial tree scheme of this model,which is equivalent to the explicit scheme,is convergent by the same rate.

  4. Financing Long-Term Services And Supports: Options Reflect Trade-Offs For Older Americans And Federal Spending.

    Science.gov (United States)

    Favreault, Melissa M; Gleckman, Howard; Johnson, Richard W

    2015-12-01

    About half of older Americans will need a high level of assistance with routine activities for a prolonged period of time. This help is commonly referred to as long-term services and supports (LTSS). Under current policies, these individuals will fund roughly half of their paid care out of pocket. Partly as a result of high costs and uncertainty, relatively few people purchase private long-term care insurance or save sufficiently to fully finance LTSS; many will eventually turn to Medicaid for help. To show how policy changes could expand insurance's role in financing these needs, we modeled several new insurance options. Specifically, we looked at a front-end-only benefit that provides coverage relatively early in the period of disability but caps benefits, a back-end benefit with no lifetime limit, and a combined comprehensive benefit. We modeled mandatory and voluntary versions of each option, and subsidized and unsubsidized versions of each voluntary option. We identified important differences among the alternatives, highlighting relevant trade-offs that policy makers can consider in evaluating proposals. If the primary goal is to significantly increase insurance coverage, the mandatory options would be more successful than the voluntary versions. If the major aim is to reduce Medicaid costs, the comprehensive and back-end mandatory options would be most beneficial.

  5. E-Commerce and Internet Dating Websites: Differences in Match Options Between African-Americans and Whites

    Directory of Open Access Journals (Sweden)

    Nancy Sardella

    2005-12-01

    Full Text Available Internet technology has offered many options for online dating. We studied online dating website capabilities and the relationship between African-Americans and White college students (n=101 regarding their preferences for receiving a weekly list of potential matches via e-mail, receiving free assistance in enhancing the written portion of their profile, the ability to sort matches by ethnicity or religion, and the ability to sort matches based on similar interests. Analysis of variance (ANOVA showed a significant difference between African-Americans and Whites regarding the ability to receive weekly lists of potential matches via e-mail, where African-Americans had greater means indicative of their preference for this feature (p0.05. Traditional dating approaches typically involve a man initiating contact with a woman. African-American men may have unique psychological concerns with regard to online dating. They may prefer to wait for automated information about prospective matches rather than initially searching online for prospective matches. An understanding of the gender differences among African-Americans can help understand if it is necessary to advocate a change in this behavioral pattern among African-American men.

  6. Pricing Asian Credit Spread Put Options Based on Longstaff-Schwartz Model%基于Longstaff-Schwartz模型的亚式信用利差看跌期权定价

    Institute of Scientific and Technical Information of China (English)

    张海永

    2011-01-01

    Black-Scholes option pricing model assumes that risk-free rate of interest is constant,which does not adjust to the reality in financial market.Actually,it is variable.This paper improves the hypothesis that risk-free rate of interest is constant and the underlying stock asset follows geometric Brownian motion.This article also assumes that risk-free rate of interest and credit spread satisfy Longstaff-Schwartz model.Then,the pricing formula of geometric-average Asian credit spread put options with fixed strike price is given and proved with some stochastic theory under conditions of the assumption.%在经典的Black-Scholes期权定价模型中无风险利率是固定不变的常数,实际金融市场上的利率是变化的。假设信用利差和无风险利率均服从Vasicek模型,在此假设下给出亚式信用利差看跌期权的定价公式并利用随机过程的相关理论对定价公式进行证明。这种研究方法还可以用在具有浮动执行价的信用利差看跌期权。

  7. Putting the whole grain puzzle together: health benefits associated with whole grains--summary of American Society for Nutrition 2010 Satellite Symposium

    National Research Council Canada - National Science Library

    Jonnalagadda, Satya S; Harnack, Lisa; Liu, Rui Hai; McKeown, Nicola; Seal, Chris; Liu, Simin; Fahey, George C

    2011-01-01

    The symposium "Putting the Whole Grain Puzzle Together: Health Benefits Associated with Whole Grains" sponsored by the ASN brought together researchers to review the evidence regarding the health benefits associated with whole grains...

  8. Energy efficiency business options for industrial end users in Latin American competitive energy markets: The case of Colombia

    Science.gov (United States)

    Botero, Sergio

    2002-01-01

    Energy markets today in Latin America and worldwide are being restructured from monopolies, either state-owned or privately-owned, to be more openly competitive and incorporate more participation from the private sector. Thus, the schemes that were formerly developed to foster end use energy efficiency are no longer applicable because they were based on mandatory regulations made with political decisions, without sufficiently considering economic feasibility. A consensus exists that the only way energy efficiency could survive in this new paradigm is by being market oriented, giving better services, and additional options to users. However; there is very little information on what end users prefer, and which options would most satisfy customers. Using Colombia as a case study, this research determines and categorizes the energy efficiency business options for large energy end users that can freely participate in the competitive energy market. The energy efficiency market is understood as a market of services aiming to increase efficiency in energy use. These services can be grouped into seven business options. A survey, following the descriptive method, was sent to energy end users in order to determine their preferences for specific energy efficiency business options, as well as the decision-making criteria taken into account for such options. This data was categorized in ten industry groups. As a conclusion, energy efficiency providers should adapt not only to the economic activity or processes of each customer, but also to the potential business options. It was also found that not all industries consider performance contracting as their most preferred option, as a matter of fact, some industries show much higher preference for conventional business options. Among end users, the divergence in option preferences contrasted with the convergence in decision-making criteria. The decision-making criteria "cost-benefit ratio" overwhelmed all other criterion. End users

  9. Putting the Whole Grain Puzzle Together: Health Benefits Associated with Whole Grains—Summary of American Society for Nutrition 2010 Satellite Symposium123

    Science.gov (United States)

    Jonnalagadda, Satya S.; Harnack, Lisa; Hai Liu, Rui; McKeown, Nicola; Seal, Chris; Liu, Simin; Fahey, George C.

    2011-01-01

    The symposium “Putting the Whole Grain Puzzle Together: Health Benefits Associated with Whole Grains” sponsored by the ASN brought together researchers to review the evidence regarding the health benefits associated with whole grains. Current scientific evidence indicates that whole grains play an important role in lowering the risk of chronic diseases, such as coronary heart disease, diabetes, and cancer, and also contribute to body weight management and gastrointestinal health. The essential macro- and micronutrients, along with the phytonutrients present in whole grains, synergistically contribute to their beneficial effects. Current evidence lends credence to the recommendations to incorporate whole grain foods into a healthy diet and lifestyle program. The symposium also highlighted the need for further research to examine the role of whole grain foods in disease prevention and management to gain a better understanding of their mechanisms of action. PMID:21451131

  10. Putting the whole grain puzzle together: health benefits associated with whole grains--summary of American Society for Nutrition 2010 Satellite Symposium.

    Science.gov (United States)

    Jonnalagadda, Satya S; Harnack, Lisa; Liu, Rui Hai; McKeown, Nicola; Seal, Chris; Liu, Simin; Fahey, George C

    2011-05-01

    The symposium "Putting the Whole Grain Puzzle Together: Health Benefits Associated with Whole Grains" sponsored by the ASN brought together researchers to review the evidence regarding the health benefits associated with whole grains. Current scientific evidence indicates that whole grains play an important role in lowering the risk of chronic diseases, such as coronary heart disease, diabetes, and cancer, and also contribute to body weight management and gastrointestinal health. The essential macro- and micronutrients, along with the phytonutrients present in whole grains, synergistically contribute to their beneficial effects. Current evidence lends credence to the recommendations to incorporate whole grain foods into a healthy diet and lifestyle program. The symposium also highlighted the need for further research to examine the role of whole grain foods in disease prevention and management to gain a better understanding of their mechanisms of action.

  11. Americans Put Teacher Quality on Center Stage: The 46th Annual PDK/Gallup Poll of the Public's Attitudes toward the Public Schools. Part II

    Science.gov (United States)

    Bushaw, William J.; Calderon, Valerie J.

    2014-01-01

    In this, the second installment of a two-part report of the 46th annual PDK/Gallup Poll of the Public's Attitudes Toward the Public Schools, the report unveils what Americans are thinking about public schools--in particular their views of teachers and the classrooms where they work. Some findings were surprising, others were not. For example,…

  12. Evaluation of call options

    Institute of Scientific and Technical Information of China (English)

    陈道平

    2002-01-01

    The European and American call options,for which the prices of their underlying asset follow compound Poisson process,are evaluated by a probability method.Formulas that can be used to evaluate the options are obtained,which include not only the elements of an option:the price of the call option,the exercise price and the expiration date,but also the riskless interest rate,nevertheless exclude the volatility of the underlying asset.In practice,the evaluated results obtained by these formulas can proved references of making strategic decision for an investor who buys the call option and a company who sells the call option.

  13. Putting teachers-to-be in the field and the lab: Hands-on research at the American Museum of Natural History

    Science.gov (United States)

    Nadeau, P. A.; Ebel, D. S.; Harlow, G. E.; Landman, N. H.; Pagnotta, A.; Sessa, J.; Shara, M.; Ustunisik, G. K.; Webster, J. D.; Blair, D.; Shumer, M.

    2013-12-01

    The American Museum of Natural History (AMNH) is halfway through a pilot program designed to prepare Earth Science teachers for grades 7-12 in high-needs schools in New York. The program was implemented to address a critical shortage of qualified Earth Science teachers throughout the state as well as to reach student populations that traditionally have limited science exposure and hands-on learning opportunities. This Master of Arts in Teaching is unique amongst teacher preparation programs, not only in that it is housed at a world-class research museum and places the teacher candidates in a year-long teaching residency, but also in that it accepts only students with a strong background in Earth Science via a degree in geology, meteorology, oceanography, astronomy, or a related discipline. Following a year of graduate courses in science and pedagogy, as well as teaching residencies, and only months before embarking on teaching career, candidates begin a seven-week science practicum. This exercise combines field and lab work under the tutelage of AMNH science curators and postdoctoral research fellows to provide experience with the scientific process, from field work and data collection to interpretation and public presentation of results. In the science practicum, teaching candidates begin by selecting one of four topics on which to focus their research: astrophysics, experimental petrology, mineralogy, or paleontology. An introduction to lab materials, techniques, and instrumentation is followed by two weeks in the field, both upstate and in New York City, where rocks of all types are encountered and discussed. Nights are devoted to astronomical observing and data collection to supplement the geology-oriented daytime sessions. Following the trips, candidates are back at AMNH analyzing data and samples in preparation for a short, scientific-style manuscript and presentation of results in an AGU-style talk. Three research groups have already discovered potentially

  14. 基于推广的最优停时理论的永久美式期权定价%American Option Pricing under Levy Motion

    Institute of Scientific and Technical Information of China (English)

    何维达; 梁智昊; 李茜

    2014-01-01

    由于美式期权可在其有效期内的任何营业日进行交易,从而其在实际交易中有着更为广泛的应用.因此美式期权的定价对期权市场参与者来说是十分重要且有意义的.为了能更好描述现实金融数据的NIG-Levy过程的情况,得到了参数λ的关于t的表达式,本文对B-S的最优停时理论进行了推广.研究在标的资产价格的对数收益服从NIG-Levy过程的条件下,通过Esscher转换找到等价鞅测度;并利用最优停时的方法,给出NIG-Levy过程下推广的最优停止的方法.从而利用这些条件和方法,给出一种特殊美式期权——永久美式看涨期权的定价公式.同时,对此过程进行了实证研究分析,结果表明本文的方法是可行的.%Because American option could be carried out in any day of valid period,it has more application in the practical transaction.Therefore,their pricing is vital and very important to the option market participants.In order to describe NIG-Levy process of the real financial data better,and get the expression of parameter λ which related to t.By extending the optimal stopping theory under Wiener process,we find the equivalent martingale by Esscher conversion when Logarithmic yield of the underlying asset obey NIG-Levy process,and use optimal stopping theory to deduce the promotion of optimal stopping under NIG-Levy process.As a result,a special American option-pricing formula of permanent American call option is given by using these methods.The empirical analysis results show that the method is feasible.

  15. Putting Portugal on the Map

    Directory of Open Access Journals (Sweden)

    João Ferrão

    2010-01-01

    Full Text Available This paper argues the need to “put Portugal on the map” in a double sense: in a prospective way, in order to place the country on the required map(s, something which entails strategic vision and capacity for action; and in an analytical way – to enable us to understand Portugal from the map(s it is part of, which presupposes a capacity to analyse and understand the current state of affairs. By drawing inspiration from the polymorphic vision on the spatialities of contemporary societies and economies defended by Jessop, Brenner and Jones (2008, we propose the creation of a unifying reference framework to “put Portugal on the map”, using a combination of five elements: territory as a geographic location; territory as a unit of reference of the nation-state; places; geographic scales; and networks. The polymorphic nature of the spatialities that characterize, or should characterize, Portugal’s place in the world reflects several, and even contradictory, ethical values, interests, preferences, and options. Accordingly, the supported polymorphic spatialities ought to stir up controversy based on knowledge and arguments that are solid from a theoretical and empirical stance, and should make explicit the objectives and values they are based on.

  16. Put Your Hands Together

    Centers for Disease Control (CDC) Podcasts

    2011-03-24

    In this podcast, learn how to help stop the spread of infection and stay healthy. It's easy when you 'Put Your Hands Together.'.  Created: 3/24/2011 by National Center for Preparedness, Detection, and Control of Infectious Diseases (NCPDCID) and National Center for Zoonotic, Vector-Borne, and Enteric Diseases (NCZVED).   Date Released: 3/24/2011.

  17. Gas Swing Options: Introduction and Pricing using Monte Carlo Methods

    Directory of Open Access Journals (Sweden)

    Václavík Tomáš

    2016-02-01

    Full Text Available Motivated by the changing nature of the natural gas industry in the European Union, driven by the liberalisation process, we focus on the introduction and pricing of gas swing options. These options are embedded in typical gas sales agreements in the form of offtake flexibility concerning volume and time. The gas swing option is actually a set of several American puts on a spread between prices of two or more energy commodities. This fact, together with the fact that the energy markets are fundamentally different from traditional financial security markets, is important for our choice of valuation technique. Due to the specific features of the energy markets, the existing analytic approximations for spread option pricing are hardly applicable to our framework. That is why we employ Monte Carlo methods to model the spot price dynamics of the underlying commodities. The price of an arbitrarily chosen gas swing option is then computed in accordance with the concept of risk-neutral expectations. Finally, our result is compared with the real payoff from the option realised at the time of the option execution and the maximum ex-post payoff that the buyer could generate in case he knew the future, discounted to the original time of the option pricing.

  18. Are You Putting Me On?

    Institute of Scientific and Technical Information of China (English)

    王花枝

    2003-01-01

    There are a number of phrases built on the word “put”, such as put by, put for, put across, put over and so forth. The expression“putting one on”is among them. You tell a person something that he finds difficult to believe, and he may look at you closely and ask:“Are you putting me on?”He does-n蒺t think you are serious. Perhaps, you are joking with him, teasing him, try-ing to test his reaction(反应).The expression “putting one on”is closest to the phrase “to put one over on a person”, meaning to trick, to de...

  19. Rehabilitation Options

    Science.gov (United States)

    ... Speech Pathology Occupational Therapy Art Therapy Recreational therapy Neuropsychology Home Care Options Advanced Care Planning Palliative Care ... Speech Pathology Occupational Therapy Art Therapy Recreational therapy Neuropsychology Home Care Options Advanced Care Planning Palliative Care ...

  20. THE STRATEGIC OPTIONS IN INVESTMENT PROJECTS VALUATION

    Directory of Open Access Journals (Sweden)

    VIOLETA SĂCUI

    2012-11-01

    Full Text Available The topic of real options applies the option valuation techniques to capital budgeting exercises in which a project is coupled with a put or call option. In many project valuation settings, the firm has one or more options to make strategic changes to the project during its life. These strategic options, which are known as real options, are typically ignored in standard discounted cash-flow analysis where a single expected present value is computed. This paper presents the types of real options that are met in economic activity.

  1. Pricing Options.

    Science.gov (United States)

    Tenopir, Carol

    1998-01-01

    Presents results of a recent survey of over 100 public and academic libraries about pricing options from online companies. Most options fall into three categories: pay-as-you-go, fixed-rate, and user-based. Results are discussed separately for public and academic libraries and for consortial discounts. Trends in pricing options preferred by…

  2. 小议put on

    Institute of Scientific and Technical Information of China (English)

    钟晓迪

    2011-01-01

    put on可以表达多种含义,现将其主要用法总结如下。 1.穿上;戴上。例如:Nancy put on her coat and went out 南希穿上大衣出去了。 2.涂;抹;擦。例如:Lucy was putting on her makeup in front of the mirror.

  3. Fibromyalgia Pathogenesis and Treatment Options Update.

    Science.gov (United States)

    Chinn, Steven; Caldwell, William; Gritsenko, Karina

    2016-04-01

    This review article presents and summarizes up-to-date literature on the clinical manifestations, diagnosis, pathophysiological mechanisms, and treatment options for fibromyalgia patients. First, the most recent diagnostic criteria for fibromyalgia, as put forth by the American College of Rheumatology will be summarized. Clinical features, including chronic widespread pain, hyperalgesia, mood disorders, anxiety, and disturbed sleep patterns will be explored in-depth. The pathogenesis and pathophysiology of fibromyalgia involves alterations in multiple ascending and descending central nervous system pathways, as well as peripheral pathways, leading to heightened pain sensitivity. Risk factors have been studied extensively, and the most recent research focuses on various genetic influences and the contributions of stress and poor sleep. Lastly, the discussion in this article focuses on treatment options for fibromyalgia; some have been mainstay options for many years. Pharmacological agents include tricyclic antidepressants, anti-epileptic drugs, selective serotonin reuptake inhibitors, norepinephrine/serotonin reuptake inhibitors, as well as some investigational agents. The evidence behind non-pharmacologic treatments, including massage therapy, exercise, and acupuncture, are discussed.

  4. Polish Toxic Currency Options

    Directory of Open Access Journals (Sweden)

    Waldemar Gontarski

    2009-04-01

    Full Text Available Toxic currency options are defined on the basis of the opposition to the nature (essence of an option contract, which is justified in terms of norms founded on the general law clause of characteristics (nature of a relation (which represents an independent premise for imposing restrictions on the freedom of contracts. So-understood toxic currency options are unlawful. Indeed they contravene iuris cogentis regulations. These include for instance option contracts, which are concluded with a bank, if the bank has not informed about option risk before concluding the contract; or the barrier options, which focus only on the protection of banks interests. Therefore, such options may appear to be invalid. Therefore, performing contracts for toxic currency options may be qualified as a criminal mismanagement. For the sake of security, the manager should then take into consideration filing a claim for stating invalidity (which can be made in a court verdict. At the same time, if the supervisory board member in a commercial company, who can also be a subject to mismanagement offences, commits an omission involving lack of reaction (for example, if he/she fails to notify of the suspected offence committed by the management board members acting to the companys detriment when the management board makes the company conclude option contracts which are charged with absolute invalidity the supervisory board member so acting may be considered to act to the companys detriment. In the most recent Polish jurisprudence and judicature the standard of a good host is treated to be the last resort for determining whether the managers powers resulting from criminal regulations were performed. The manager of the exporter should not, as a rule, issue any options. Issuing options always means assuming an obligation. In the case of currency put options it is an absolute obligation to purchase a given amount in euro at exchange rate set in advance. On the other hand issuing

  5. Convergent Validity of the PUTS

    Directory of Open Access Journals (Sweden)

    Valerie Cathérine Brandt

    2016-04-01

    Full Text Available Premonitory urges are a cardinal feature in Gilles de la Tourette syndrome. Severity of premonitory urges can be assessed with the Premonitory Urge for Tic Disorders Scale (PUTS. However, convergent validity of the measure has been difficult to assess due to the lack of other urge measures.We investigated the relationship between average real-time urge intensity assessed by an in-house developed real-time urge monitor, measuring urge intensity continuously for 5mins on a visual analogue scale, and general urge intensity assessed by the PUTS in 22 adult Tourette patients (mean age 29.8+/- 10.3; 19 male. Additionally, underlying factors of premonitory urges assessed by the PUTS were investigated in the adult sample using factor analysis and were replicated in 40 children and adolescents diagnosed with Tourette syndrome (mean age 12.05 +/- 2.83 SD, 31 male.Cronbach’s alpha for the PUTS10 was acceptable (α = .79 in the adult sample. Convergent validity between average real-time urge intensity scores (as assessed with the real-time urge monitor and the 10-item version of the PUTS (r = .64 and the 9-item version of the PUTS (r = .66 was good. A factor analysis including the 10 items of the PUTS and average real-time urge intensity scores revealed three factors. One factor included the average real-time urge intensity score and appeared to measure urge intensity, while the other two factors can be assumed to reflect the (sensory quality of urges and subjective control, respectively. The factor structure of the 10 PUTS items alone was replicated in a sample of children and adolescents.The results indicate that convergent validity between the PUTS and the real-time urge assessment monitor is good. Furthermore, the results suggest that the PUTS might assess more than one dimension of urges and it may be worthwhile developing different sub-scales of the PUTS assessing premonitory urges in terms of intensity and quality, as well as subjectively

  6. 随机波动率下永久美式障碍期权的渐近式%The Asymptotic Formula of the Perpetual American Barrier Option Under Stochastic Volatility

    Institute of Scientific and Technical Information of China (English)

    张娇娇; 毕秀春; 李荣; 张曙光

    2016-01-01

    This study considers a stochastic volatility model for pricing perpetual American barrier options where the volatility is driven by a fast mean reversion Ornstein-Unlenbeck (O-U)process.It takes the case of the perpetual down-and-out call option for example,pricing problem of which can be formulated as a free boundary problem.Using the perturbation method,we first expand the price and the optimal exercise price of this option in the power of the length of mean reversion time.Then,by solving a set of Poisson equations,two asymptotic formulae are derived for this option price and the optimal exercise price,respectively.%研究波动率服从快速均值回复 Ornstein-Unlenbeck (O-U)过程的永久美式障碍期权的定价问题。考虑永久美式向下敲出看涨期权,该期权的定价问题可归结于求解自由边界问题。使用扰动法,把期权价格以及最优执行价格按均值回复时间长度的幂进行展开,通过求解 Poisson 方程组,得到期权和最优执行价格的渐近公式。

  7. Put numbers on the sustainability

    DEFF Research Database (Denmark)

    Hauschild, Michael Zwicky

    2014-01-01

    exposure of humans, to the local impacts associated with physical transformation of land and extraction of water. Chemicals can cause toxic impacts to humans and ecosystems on all scales. All these impacts need to be quantified if we want to put numbers on sustainability. The life cycle perspective...... on products and systems and the coverage of all relevant environmental impacts are combined in Life cycle assessment (LCA) which is introduced in the talk as the tool to put numbers on environmental sustainability. The basics of LCA are introduced, current applications are presented and a discussion of its...

  8. Putting Emotional Intelligence To Work

    CERN Document Server

    Ryback, David

    2012-01-01

    Putting Emotional Intelligence to Work offers a new paradigm of communication for the 21st-century workplace. Beginning with the thoughts of communication pioneer Carl Rogers, this book covers the origins and history of emotional intelligence, why it is essential at this point in the changing marketplace, how to delegate and negotiate more effectively, and how to change yourself to become a more effective player. An EQ (Emotional Quotient) survey helps you determine where you are on the scale of executive intelligence. Putting Emotional Intelligence to Work leaves you with a greater understand

  9. Analysis of Options Contract, Option Pricing in Agricultural Products

    Directory of Open Access Journals (Sweden)

    H. Tamidy

    2016-03-01

    Full Text Available Introduction: Risk is an essential component in the production and sale of agricultural products. Due to the nature of agricultural products, the people who act in this area including farmers and businesspersons encounter unpredictable fluctuations of prices. On the other hand, the firms that process agricultural products also face fluctuation of price of agricultural inputs. Given that the Canola is considered as one of the inputs of product processing factories, control of unpredictable fluctuations of the price of this product would increase the possibility of correct decision making for farmers and managers of food processing industries. The best available tool for control and management of the price risk is the use of future markets and options. It is evident that the pricing is the main pillar in every trade. Therefore, offering a fair price for the options will be very important. In fact, options trading in the options market create cost insurance stopped. In this way, which can reduce the risks of deflation created in the future, if the person entitled to the benefits of the price increase occurs in the future. Unlike the futures, market where the seller had to deliver the product on time, in the options market, there is no such compulsion. In addition, this is one of the strengths of this option contract, because if there is not enough product for delivery to the futures market as result of chilling, in due course, the farmers suffer, but in the options market there will be a loss. In this study, the setup options of rape, as a product, as well as inputs has been paid for industry. Materials and Methods: In this section. The selection criteria of the disposal of asset base for valuation of European put options and call option is been introduced. That for obtain this purpose, some characteristics of the goods must considered: 1-Unpredictable fluctuations price of underlying asset 2 -large underlying asset cash market 3- The possibility

  10. "Please Don't Just Hang a Feather on a Program or Put a Medicine Wheel on Your Logo and Think 'Oh Well, This Will Work'": Theoretical Perspectives of American Indian and Alaska Native Substance Abuse Prevention Programs.

    Science.gov (United States)

    Walsh-Buhi, Margaret L

    Many current theories guiding substance abuse prevention (SAP) programs stem from Western ideologies, leading to a scarcity of research on theories from, and a disconnect with, Indigenous perspectives. This qualitative research study explored perceptions of theory by SAP researchers (N = 22) working with American Indian and Alaska Native communities. In-depth interviews identified components of Indigenous theoretical perspectives, including cultural elements such as balance, social cohesion, and belonging as being particularly significant and currently absent from many SAP programs. Recommendations for conducting metatheory studies and operationalization of Indigenous perspectives into guiding theoretical underpinnings for future SAP programming are provided.

  11. Heating being put into service

    CERN Multimedia

    2016-01-01

    The SMB-SE group would like to inform you that, the central heating will start this year, on Monday 3 October 2016, and will be progressively and depending on the weather forecast put into service throughout. All buildings will have heating within the following few days. Thank you for your understanding. The CERN heating team SMB-SE

  12. Putting Motor Resonance in Perspective

    Science.gov (United States)

    Lozano, Sandra C.; Hard, Bridgette Martin; Tversky, Barbara

    2008-01-01

    Perceiving another person's actions changes the spatial perspective people use to describe objects in a scene, possibly because seeing human action induces people to map the actions, including their spatial context, to their own body and motor representations [Lozano, S. C., Hard, B. M., & Tversky, B. (2007). Putting action in perspective.…

  13. Putting Pow into Art Instruction

    Science.gov (United States)

    Berkowitz, Jay; Packer, Todd

    2004-01-01

    How would you like to put some "Pow!" into your art instruction? A lesson in comic books--history, design, story, and production--can make your classes come alive. The authors present a new approach to using comics to build artistic skills and involve students in art appreciation. Why Comics? Many art teachers have students who say, "I hate art!"…

  14. Putting food on the table

    NARCIS (Netherlands)

    Candel, J.J.L.

    2016-01-01

    Putting food on the table: the European Union governance of the wicked problem of food security Jeroen Candel Food security concerns and arguments have made a revival in European Union (EU) governance since the 2007-8 and 2010 global food price crises. This renaissa

  15. Discrete-Time Pricing and Optimal Exercise of American Perpetual Warrants in the Geometric Random Walk Model

    Energy Technology Data Exchange (ETDEWEB)

    Vanderbei, Robert J., E-mail: rvdb@princeton.edu [Princeton University, Department of Operations Research and Financial Engineering (United States); P Latin-Small-Letter-Dotless-I nar, Mustafa C., E-mail: mustafap@bilkent.edu.tr [Bilkent University, Department of Industrial Engineering (Turkey); Bozkaya, Efe B. [Sabanc Latin-Small-Letter-Dotless-I University, Faculty of Administrative Sciences (Turkey)

    2013-02-15

    An American option (or, warrant) is the right, but not the obligation, to purchase or sell an underlying equity at any time up to a predetermined expiration date for a predetermined amount. A perpetual American option differs from a plain American option in that it does not expire. In this study, we solve the optimal stopping problem of a perpetual American option (both call and put) in discrete time using linear programming duality. Under the assumption that the underlying stock price follows a discrete time and discrete state Markov process, namely a geometric random walk, we formulate the pricing problem as an infinite dimensional linear programming (LP) problem using the excessive-majorant property of the value function. This formulation allows us to solve complementary slackness conditions in closed-form, revealing an optimal stopping strategy which highlights the set of stock-prices where the option should be exercised. The analysis for the call option reveals that such a critical value exists only in some cases, depending on a combination of state-transition probabilities and the economic discount factor (i.e., the prevailing interest rate) whereas it ceases to be an issue for the put.

  16. Putting food on the table

    OpenAIRE

    2016-01-01

    Putting food on the table: the European Union governance of the wicked problem of food security Jeroen Candel Food security concerns and arguments have made a revival in European Union (EU) governance since the 2007-8 and 2010 global food price crises. This renaissance of food security has been accompanied by increasing awareness among scholars and policymakers about high degrees of complexity, uncertainty, controversy, and cross-scale dynamics surrounding food security as well as consequent ...

  17. Watermark options

    OpenAIRE

    Rodosthenous, Neofytos; Zervos, Mihail

    2017-01-01

    We consider a new family of derivatives whose payoffs become strictly positive when the price of their underlying asset falls relative to its historical maximum. We derive the solution to the discretionary stopping problems arising in the context of pricing their perpetual American versions by means of an explicit construction of their value functions. In particular, we fully characterise the free-boundary functions that provide the optimal stopping times of these genuinely two-dimensional pr...

  18. Watermark Options

    OpenAIRE

    Rodosthenous, Neofytos; Zervos, Mihail

    2016-01-01

    We consider a new family of derivatives whose payoffs become strictly positive when the price of their underlying asset falls relative to its historical maximum. We derive the solution to the discretionary stopping problems arising in the context of pricing their perpetual American versions by means of an explicit construction of their value functions. In particular, we fully characterise the free-boundary functions that provide the optimal stopping times of these genuinely two-dimensional pr...

  19. Putting science on the agenda

    CERN Multimedia

    2012-01-01

    The job of CERN Director-General comes with a lot of responsibility, and that’s particularly true today. We’re living through a period of unique circumstances for science. Positive indicators, such as a renewal of interest in physical sciences at the University level and unprecedented public interest in the LHC, are aligning with storm clouds in the form of a prolonged economic crisis that will put downward pressure on everyone’s budgets.   That means that science has to make its voice heard if it’s to preserve support, and if it wants to be in a position to play the role it must in navigating the major societal challenges of our time. For that reason, I have been a fairly rare sight at CERN of late. Last week, I was in Davos for the annual meeting of the World Economic Forum. It was my second time at Davos, and I used the opportunity to argue that science should be more closely linked to the political thread of the meeting. I think my argument was he...

  20. 75 FR 8776 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated: Notice of Filing and...

    Science.gov (United States)

    2010-02-25

    ...'') in options on the S&P 100 Index American-style options (OEX) and S&P 100 Index European-style options... communications relating to the proposed rule change between the Commission and any person, other than those...

  1. Implied Volatility of Interest Rate Options: An Empirical Investigation of the Market Model

    DEFF Research Database (Denmark)

    Christiansen, Charlotte; Hansen, Charlotte Strunk

    2002-01-01

    We analyze the empirical properties of the volatility implied in options on the 13-week US Treasury bill rate. These options have not been studied previously. It is shown that a European style put option on the interest rate is equivalent to a call option on a zero-coupon bond. We apply the LIBOR...

  2. Implied Volatility of Interest Rate Options: An Empirical Investigation of the Market Model

    DEFF Research Database (Denmark)

    Christiansen, Charlotte; Hansen, Charlotte Strunk

    2002-01-01

    We analyze the empirical properties of the volatility implied in options on the 13-week US Treasury bill rate. These options have not been studied previously. It is shown that a European style put option on the interest rate is equivalent to a call option on a zero-coupon bond. We apply the LIBOR...

  3. Perpetual Options and Canadization Through Fluctuation Theory

    NARCIS (Netherlands)

    Kyprianou, A.; Pistorius, M.

    2001-01-01

    In this article it is shown that one is able to evaluate the price of perpetual calls, puts, Russian and integral options directly as the Laplace transform of a stopping time of an appropriate diusion using standard uctuation theory. This approach is oered in contrast to the approach of optimal stop

  4. 12 CFR 220.128 - Treatment of simultaneous long and short positions in the same margin account when put or call...

    Science.gov (United States)

    2010-01-01

    ... positions in the same margin account when put or call options or combinations thereof on such stock are also...) Interpretations § 220.128 Treatment of simultaneous long and short positions in the same margin account when put... the deposit of margin ordinarily required in connection with the guarantee by a creditor of a put...

  5. MODIFICATION OF DELTA FOR CHOOSER OPTIONS

    Directory of Open Access Journals (Sweden)

    Marek Ďurica

    2015-09-01

    Full Text Available Correctly used financial derivatives can help investors increase their expected returns and minimize their exposure to risk. To ensure the specific needs of investors, a large number of different types of non-standard exotic options is used. Chooser option is one of them. It is an option that gives its holder the right to choose at some predetermined future time whether the option will be a standard call or put with predetermined strike price and maturity time. Although the chooser options are more expensive than standard European-style options, in many cases they are a more suitable instrument for investors in hedging their portfolio value. For an effective use of the chooser option as a hedging instrument, it is necessary to check the values of the Greek parameters delta and gamma for the options. Especially, if the value of the parameter gamma is too large, hedging of the portfolio value using only parameter delta is insufficient and brings high transaction costs because the portfolio has to be reviewed relatively often. Therefore, in this article, a modification of delta-hedging as well as using the value of parameter gamma is suggested. Error of the delta modification is analyzed and compared with the error of widely used parameter delta. Typical patterns for the modified hedging parameter variation with various time to choose time for chooser options are also presented in this article.

  6. Ocular Dominance and Handedness in Golf Putting.

    Science.gov (United States)

    Dalton, Kristine; Guillon, Michel; Naroo, Shehzad A

    2015-10-01

    In golf, the impact of eye-hand dominance on putting performance has long been debated. Eye-hand dominance is thought to impact how golfers judge the alignment of the ball with the target and the club with the ball, as well as how golfers visualize the line of the putt when making decisions about the force needed to hit the ball. Previous studies have all measured ocular dominance in primary gaze only, despite golfers spending a significant amount of their time in a putting stance (bent at the hips, head tilted down). Thus, the purpose of this study was to assess ocular dominance in both primary gaze (aligning the ball with the target) and putting gaze (addressing the ball and aligning the club). This study investigated measuring pointing ocular dominance in both primary and putting gaze positions on 31 golfers (14 amateur, 7 club professionals, and 10 top professionals). All players were right-handed golfers, although one reported having no hand dominance and one reported being strongly left hand dominant. The results showed that (1) primary and putting gaze ocular dominances are not equal, nor are they predictive of each other; (2) the magnitude of putting ocular dominance is significantly less than the magnitude of primary gaze ocular dominance; (3) ocular dominance is not correlated with handedness in either primary or putting gaze; and (4) eye-hand dominance is not associated with increased putting skill, although ocular dominance may be associated with increased putting success. It is important that coaches assess golfers' ocular dominance in both primary and putting gaze positions to ensure they have the most accurate information upon which to base their vision strategy decisions.

  7. CONDITIONAL ASIAN OPTIONS

    OpenAIRE

    Runhuan Feng; Volkmer, Hans W.

    2015-01-01

    Conditional Asian options are recent market innovations, which offer cheaper and long-dated alternatives to regular Asian options. In contrast with payoffs from regular Asian options which are based on average asset prices, the payoffs from conditional Asian options are determined only by average prices above certain threshold. Due to the limited inclusion of prices, conditional Asian options further reduce the volatility in the payoffs than their regular counterparts and have been promoted i...

  8. Teen Safety: Putting an End to Bullying

    Science.gov (United States)

    ... Print Share Teen Safety: Putting An End to Bullying Page Content Article Body The outbreak of school ... that has been allowed to go virtually unchecked: bullying. It turns out that many of these adolescent ...

  9. Putting New Laboratory Tests Into Practice

    Science.gov (United States)

    ... Home Visit Global Sites Search Help? Putting New Laboratory Tests into Practice Share this page: Was this ... of articles that describe how different types of laboratory tests are developed, validated, and made available for ...

  10. Optimal Consumption and Investment with Labor Income and European/American Capital Guarantee

    Directory of Open Access Journals (Sweden)

    Morten Tolver Kronborg

    2014-05-01

    Full Text Available We present the optimal consumption and investment strategy for an investor, endowed with labor income, searching to maximize utility from consumption and terminal wealth when facing a binding capital constraint of a European (constraint on terminal wealth or an American (constraint on the wealth process type. In both cases, the optimal strategy is proven to be of the option-based portfolio insurance type. The optimal strategy combines a long position in the optimal unrestricted allocation with a put option. In the American case, where the investor is restricted to fulfill a capital guarantee at every intermediate time point over the interval of optimization, we prove that the investor optimally changes his budget constraint for the unrestricted allocation whenever the constraint is active. The strategy is explained in a step-by-step manner, and numerical illustrations are presented in order to support intuition and to compare the restricted optimal strategy with the unrestricted optimal counterpart.

  11. Distributed Energy Implementation Options

    Energy Technology Data Exchange (ETDEWEB)

    Shah, Chandralata N [National Renewable Energy Laboratory (NREL), Golden, CO (United States)

    2017-09-13

    This presentation covers the options for implementing distributed energy projects. It distinguishes between options available for distributed energy that is government owned versus privately owned, with a focus on the privately owned options including Energy Savings Performance Contract Energy Sales Agreements (ESPC ESAs). The presentation covers the new ESPC ESA Toolkit and other Federal Energy Management Program resources.

  12. TANK SPACE OPTIONS REPORT

    Energy Technology Data Exchange (ETDEWEB)

    WILLIS WL; AHRENDT MR

    2009-08-11

    Since this report was originally issued in 2001, several options proposed for increasing double-shell tank (DST) storage space were implemented or are in the process of implementation. Changes to the single-shell tank (SST) waste retrieval schedule, completion of DST space saving options, and the DST space saving options in progress have delayed the projected shortfall of DST storage space from the 2007-2011 to the 2018-2025 timeframe (ORP-11242, River Protection Project System Plan). This report reevaluates options from Rev. 0 and includes evaluations of new options for alleviating projected restrictions on SST waste retrieval beginning in 2018 because of the lack of DST storage space.

  13. Put Me In, Coach! Making the Academic Learning Community an Option for Student-Athletes

    Science.gov (United States)

    Mamerow, Geoffrey P.; Navarro, Kristina M.

    2014-01-01

    There is a growing recognition among researchers and practitioners alike that student-athletes are an "at risk" group of students in higher education today. More specifically, research has identified several specific negative conditions that impact student-athletes and threaten their success in college. Learning communities, on the other…

  14. Putting Opportunism in the Back Seat

    DEFF Research Database (Denmark)

    Foss, Nicolai; Weber, Libby

    2013-01-01

    TCE and its applications in management research put more emphasis on opportunism than on bounded rationality. By augmenting the bounded rationality assumption to include interpretive limitations, we show that there are sources of costly conflict that are not rooted in opportunism. Moreover, we show...

  15. Multicultural Education Course Put into Practice

    Science.gov (United States)

    Jun, Eun Jeong

    2016-01-01

    This study examines the ways in which two teachers who have previously taken a multicultural education course put into practice multicultural teaching in a first grade afterschool program. Banks' five dimensions of multicultural education are used as the theoretical framework for analyzing past research on multicultural education courses and for…

  16. "Big Bang" project put off to 2008

    CERN Multimedia

    Evans, Robert

    2007-01-01

    "First tests in a scientific project aimed at solving myteries of the universe and the "Big Bang" that created it have been put off from November to late April or early May next year, an official said on Wednesday" (1/2 page)

  17. DIST/AVC Out-Put Definition.

    Science.gov (United States)

    Wilkinson, Gene L.

    The first stage of development of a management information system for DIST/AVC (Division of Instructional Technology/Audio-Visual Center) is the definition of out-put units. Some constraints on the definition of output units are: 1) they should reflect goals of the organization, 2) they should reflect organizational structure and procedures, and…

  18. Put It Back in the Hole

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    A little boy and his grandfather are raking (用耙子耙) leaves in the yard.The little boy finds an earthworm (蚯蚓) trying to get back into its hole.He says,"Grandpa,I bet I can put that worm back in that hole."

  19. Quanwei Copper Processing Base Put Into Operation

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    <正>Quanwei (Tongling) Copper Co.,Ltd’s copper processing base in Tongling of Anhui Province has been put into operation at the end of De- cember last year. It is reported that the copper processing project, invested by Zhengwei (Shenzhen) Technology

  20. Putting Consistent Theories Together in Institutions

    Institute of Scientific and Technical Information of China (English)

    应明生

    1995-01-01

    The problem of putting consistent theories together in institutions is discussed.A general necessary condition for consistency of the resulting theory is carried out,and some sufficient conditions are given for diagrams of theories in which shapes are tree bundles or directed graphs.Moreover,some transformations from complicated cases to simple ones are established.

  1. 12 CFR 220.122 - “Deep in the money put and call options” as extensions of credit.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 3 2010-01-01 2010-01-01 false âDeep in the money put and call optionsâ as....122 “Deep in the money put and call options” as extensions of credit. (a) The Board of Governors has been asked to determine whether the business of selling instruments described as “deep in the money...

  2. Talking with the Doctor about Breast Surgery Options

    Science.gov (United States)

    ... also President-Elect of the American Society of Breast Surgeons. Q: What surgical options do women diagnosed with early- ... generally not used after mastectomy for early-stage breast cancer. Q: What are the advantages and disadvantages for having ...

  3. An Empirical Test of Efficiency of Exchange-Traded Currency Options in India

    Directory of Open Access Journals (Sweden)

    Aparna Bhat

    2015-12-01

    Full Text Available The objective of this paper is to examine efficiency of the exchange-traded currency options market in India. Put-call-futures parity for the USD-INR currency options is studied by analyzing daily closing prices of options and futures for thirty two months on the National Stock Exchange. The study reveals frequent violations of the put-call-futures parity creating significant arbitrage opportunities. The pattern of mispricing varies when examined for time to maturity, option moneyness, liquidity and volatility of the underlying asset. These observations are consistent with those of studies of other young markets.

  4. An invisible wall put up by ghosts

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

    <正>When I was a child, my grandmother would often tell me ghost stories. One of them was about an invisible wall that had been put up by ghosts.It was a winter night that was getting darker and darker, colder and colder. A lone farmer was driving his horse and cart along a country path. As he was getting close to his village, he could see the cemetery with the myriad tombs on both sides

  5. Putting the Critical Back in Critical Infrastructure

    Science.gov (United States)

    2015-12-01

    CRITICAL BACK IN CRITICAL INFRASTRUCTURE by Bradford C. Mason December 2015 Thesis Advisor: Rudolph P. Darken Second Reader: Thomas Mackin...COVERED Master’s thesis 4. TITLE AND SUBTITLE PUTTING THE CRITICAL BACK IN CRITICAL INFRASTRUCTURE 5. FUNDING NUMBERS 6. AUTHOR(S) Bradford C. Mason...12b. DISTRIBUTION CODE A 13. ABSTRACT (maximum 200 words) In the context of national critical infrastructure security and resilience doctrine

  6. The Impact of Putting Mubarak on Trial

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    On August 3,2011,83-year-old former Egyptian President Hosni Mubarak was put on trial,lying on a hospital bed an iron cage in a Cairo courtroom. Zhang Zhongxiang,Deputy Director of the Department of the West Asian and African Studies at the Shanghai Institutes for International Studies,believes that the Mubarak trial will not only aggravate conflict among Egyptian people, but also complicate the regional tensions and

  7. Informed Option Trading Strategies

    NARCIS (Netherlands)

    C.M. de Jong (Cyriel)

    2001-01-01

    textabstractWe use a sequential trade model to clarify two mechanisms following the introduction of an option that may lead to increased efficiency in the underlying. On the one hand, market makers learn from trades in the option market and set more accurate prices. On the other hand, the proportion

  8. Traffic Light Options

    DEFF Research Database (Denmark)

    Jørgensen, Peter Løchte

    2006, and supervisory authorities in many other European countries have implemented similar regulation. Traffic light options are therefore likely to attract the attention of a wider audience of pension fund managers in the future. Focusing on the valuation of the traffic light option we set up a Black......This paper introduces, prices, and analyzes traffic light options. The traffic light option is an innovative structured OTC derivative developed independently by several London-based investment banks to suit the needs of Danish life and pension (L&P) companies, which must comply with the traffic...... light scenarios. These stress scenarios entail drops in interest rates as well as in stock prices, and traffic light options are thus designed to pay off and preserve sufficient capital when interest rates and stock prices fall simultaneously. Sweden's FSA implemented a traffic light system in January...

  9. Traffic Light Options

    DEFF Research Database (Denmark)

    Jørgensen, Peter Løchte

    2007-01-01

    2006, and supervisory authorities in many other European countries have implemented similar regulation. Traffic light options are therefore likely to attract the attention of a wider audience of pension fund managers in the future. Focusing on the valuation of the traffic light option we set up a Black......This paper introduces, prices, and analyzes traffic light options. The traffic light option is an innovative structured OTC derivative developed independently by several London-based investment banks to suit the needs of Danish life and pension (L&P) companies, which must comply with the traffic...... light scenarios. These stress scenarios entail drops in interest rates as well as in stock prices, and traffic light options are thus designed to pay off and preserve sufficient capital when interest rates and stock prices fall simultaneously. Sweden's FSA implemented a traffic light system in January...

  10. Pricing Asian options in financial markets using Mellin transforms

    Directory of Open Access Journals (Sweden)

    Indranil SenGupta

    2014-11-01

    Full Text Available We derived an expression for the floating strike put arithmetic asian options in financial market when the asset is driven by the generalized Barndorff-Nielsen and Shephard model with stochastic volatility. A solution procedure for the resulting partial differential equation is provided using the technique of Mellin transforms.

  11. PUTTING RURAL POLICY ON THE FRONT BURNER

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    A "new countryside" is not a new concept. In 1956, the Chinese Government set a goal of restructuring rural areas, hut that was not specified in its work agenda. In early 2006, the Central Government released its first major document of the year, which calls the construction of a "new socialist countryside" the foremost task facing China in the 2006-10 period. Why did the government put the goal on its agenda this year?Chen Xiwen, Deputy Director of the Office of the Central Financial Work Leading Group,...

  12. 南水北调东线工程水期权交易及其定价模型%Water rights option transaction and pricing model for Eastern Route of South-to-North Water Diversion Project

    Institute of Scientific and Technical Information of China (English)

    周进梅; 吴凤平

    2014-01-01

    提出将美式看跌水期权模式应用于南水北调东线工程水权交易市场,农业用水户运用二叉树定价模型对美式看跌期权各个阶段水价的波动以及期权价值进行分析,以做出对自身有益的决策。结果表明,南水北调东线工程水期权交易及其定价模型有利于激励节水灌溉技术的推广。%The American water rights put option model was applied to the water rights transaction market of the Eastern Route of the South-to-North Water Diversion Project .Agricultural water users used the binary tree pricing model to analyze the fluctuations of water price at various stages and the value of the American put option , in order to make decisions for their own benefit .This study shows that the water rights option transaction of the Eastern Route of South-to-North Water Diversion Project and the pricing model can contribute to the promotion of water-saving irrigation technology .

  13. Financing options for public electric systems

    Energy Technology Data Exchange (ETDEWEB)

    Perkins, C.M.

    Public utilities, traditionally restricted in sources of capital, in recent years have developed innovations in financing. The predominant method for raising capital is long-term revenue bonds. Newer devices include warrants (attached to bonds; must be exercised within stated time), variable rates, deep discount (bond carrying coupon 300 to 400 basis points less than market interest, purchased 20 to 30% below face value), calls and puts (call prohibits redemption for stated time; put allows early specified redemption), defeasance (issue of refunding bonds at lower interest rate to refund earlier issues), shelf registration (official statement ready on moment's notice), insurance on principal and interest, leasing arrangements, lines of credit, tax-exempt commercial paper, bond anticipation notes, minibonds, cash management, and techniques such as swaps, options, and futures. 3 figures, 1 table.

  14. Expensing options solves nothing.

    Science.gov (United States)

    Sahlman, William A

    2002-12-01

    The use of stock options for executive compensation has become a lightning rod for public anger, and it's easy to see why. Many top executives grew hugely rich on the back of the gains they made on their options, profits they've been able to keep even as the value they were supposed to create disappeared. The supposed scam works like this: Current accounting regulations let companies ignore the cost of option grants on their income statements, so they can award valuable option packages without affecting reported earnings. Not charging the cost of the grants supposedly leads to overstated earnings, which purportedly translate into unrealistically high share prices, permitting top executives to realize big gains when they exercise their options. If an accounting anomaly is the problem, then the solution seems obvious: Write off executive share options against the current year's revenues. The trouble is, Sahlman writes, expensing option grants won't give us a more accurate view of earnings, won't add any information not already included in the financial statements, and won't even lead to equal treatment of different forms of executive pay. Far worse, expensing evades the real issue, which is whether compensation (options and other-wise) does what it's supposed to do--namely, help a company recruit, retain, and provide the right people with appropriate performance incentives. Any performance-based compensation system has the potential to encourage cheating. Only ethical management, sensible governance, adequate internal control systems, and comprehensive disclosure will save the investor from disaster. If, Sahlman warns, we pass laws that require the expensing of options, thinking that's fixed the fundamental flaws in corporate America's accounting, we will have missed a golden opportunity to focus on the much more extensive defects in the present system.

  15. Valuing stock options when prices are subject to a lower boundary: a correction

    NARCIS (Netherlands)

    Hertrich, M.; Veestraeten, D.

    2012-01-01

    This note discusses and corrects an inaccurate statement in Veestraeten (2008) concerning the valuation of European stock options in the presence of a lower reflecting boundary. The claim that the put price can be obtained via the risk-neutral call price and the put call parity is not correct. In fa

  16. Early Option Exercise

    DEFF Research Database (Denmark)

    Heje Pedersen, Lasse; Jensen, Mads Vestergaard

    A classic result by Merton (1973) is that, except just before expiration or dividend payments, one should never exercise a call option and never convert a convertible bond. We show theoretically that this result is overturned when investors face frictions. Early option exercise can be optimal when...... it reduces short-sale costs, transaction costs, or funding costs. We provide consistent empirical evidence, documenting billions of dollars of early exercise for options and convertible bonds using unique data on actual exercise decisions and frictions. Our model can explain as much as 98% of early exercises...

  17. Early Option Exercise

    DEFF Research Database (Denmark)

    Jensen, Mads Vestergaard; Heje Pedersen, Lasse

    2016-01-01

    A classic result by Merton (1973) is that, except just before expiration or dividend payments, one should never exercise a call option and never convert a convertible bond. We show theoretically that this result is overturned when investors face frictions. Early option exercise can be optimal when...... it reduces short-sale costs, transaction costs, or funding costs. We provide consistent empirical evidence, documenting billions of dollars of early exercise for options and convertible bonds using unique data on actual exercise decisions and frictions. Our model can explain as much as 98% of early exercises...

  18. Focused Logistics: Putting Agility in Agile Logistics

    Science.gov (United States)

    2011-05-19

    list, ahead of companies like American Express, DuPont and Coca Cola; Supports nearly 1,900 weapon systems; DLA manages eight supply chains and...maneuver units and cumbersome logistics tail that executed and supported operations during the 1st Gulf War. The initial sustainment concept in

  19. Putting the Camps into UCLA's Curriculum.

    Science.gov (United States)

    Matsumoto, Valerie

    1993-01-01

    Discusses the history and design of a project to integrate material on the internment of Japanese Americans in the Second World War into the curriculum at the University of California Los Angeles (UCLA). Proceedings of a seminar to develop the process are also reviewed, with suggestions for the future. (SLD)

  20. Analysis of Intraday Trading of Index Option in Korean Option Market

    Directory of Open Access Journals (Sweden)

    Young-Hoon Ko

    2014-01-01

    Full Text Available The option market in South Korea began on 7 July 1997. After then, the amount of option market has increased steeply. In these days, average daily payments is beyond 1 trillion won. It is impossible to predict the market. But using the statistics, investors can get a profit steadly. The open interest contracts of index future has increased over 4000 after start time of a day and decrease down to about 0 when closing time. As for this characteristics of index future, Ko[1] suggested the volatility strategy and brought the result of simulation with the profit of 1.07 % per a day. This profit comes to real if an investor finds a brokerage firm with low commissions. This paper suggests another strategy. The price of options consists of time value and intrinsic value. And the fall of index future is faster than rising. Therefore velocity of moving index cause the price of options. The simulation results give a fascinating fact that put option tends to increase in the morning and call option tends to increase in the afternoon. With this velocity strategy, investors get the profit 1.4% per a day except commissions of 0.15% per one trade.

  1. Housing Options for Seniors

    Science.gov (United States)

    ... different services. The services are based on the lifestyle and health care needs of the residents. Below are some options for senior living. Active adult communitiesActive adult communities are neighborhoods made for older ...

  2. Traditional preventive treatment options

    DEFF Research Database (Denmark)

    Longbottom, C; Ekstrand, K; Zero, D

    2009-01-01

    Preventive treatment options can be divided into primary, secondary and tertiary prevention techniques, which can involve patient- or professionally applied methods. These include: oral hygiene (instruction), pit and fissure sealants ('temporary' or 'permanent'), fluoride applications (patient...

  3. Fluorosis varied treatment options

    OpenAIRE

    Sherwood I

    2010-01-01

    Fluorosis has been reported way back in 1901. The treatment options for fluorosis are varied depending upon individual cases. This article comes from Madurai in India where its surrounding towns are fluorosis-prone zones. The purpose of this article is to report various treatment options available for dental fluorosis; this is the first time that complete full mouth rehabilitation for dental fluorosis is being reported. This article also dwells on the need for the dentists to be aware of thei...

  4. Putting a Spin on Photon Entanglement

    Science.gov (United States)

    2012-11-15

    NUMBER 5b. GRANT NUMBER 5c. PROGRAM ELEMENT NUMBER 6. AUTHOR(S) 5d. PROJECT NUMBER 5e. TASK NUMBER 5f. WORK UNIT NUMBER 7. PERFORMING ORGANIZATION...be done, beyond sun protection, to decrease melanoma risk in red-haired, fair- skinned individuals? Destroying all melanin is not an option, because...will be in when it is measured , we can predict with certainty the measurement outcome of system B once A is measured , even if the two systems are

  5. Options Study - Phase II

    Energy Technology Data Exchange (ETDEWEB)

    R. Wigeland; T. Taiwo; M. Todosow; W. Halsey; J. Gehin

    2010-09-01

    The Options Study has been conducted for the purpose of evaluating the potential of alternative integrated nuclear fuel cycle options to favorably address the issues associated with a continuing or expanding use of nuclear power in the United States. The study produced information that can be used to inform decisions identifying potential directions for research and development on such fuel cycle options. An integrated nuclear fuel cycle option is defined in this study as including all aspects of the entire nuclear fuel cycle, from obtaining natural resources for fuel to the ultimate disposal of used nuclear fuel (UNF) or radioactive wastes. Issues such as nuclear waste management, especially the increasing inventory of used nuclear fuel, the current uncertainty about used fuel disposal, and the risk of nuclear weapons proliferation have contributed to the reluctance to expand the use of nuclear power, even though it is recognized that nuclear power is a safe and reliable method of producing electricity. In this Options Study, current, evolutionary, and revolutionary nuclear energy options were all considered, including the use of uranium and thorium, and both once-through and recycle approaches. Available information has been collected and reviewed in order to evaluate the ability of an option to clearly address the challenges associated with the current implementation and potential expansion of commercial nuclear power in the United States. This Options Study is a comprehensive consideration and review of fuel cycle and technology options, including those for disposal, and is not constrained by any limitations that may be imposed by economics, technical maturity, past policy, or speculated future conditions. This Phase II report is intended to be used in conjunction with the Phase I report, and much information in that report is not repeated here, although some information has been updated to reflect recent developments. The focus in this Options Study was to

  6. Nevada Transportatoion Options Study

    Energy Technology Data Exchange (ETDEWEB)

    P. GEHNER; E.M. WEAVER; L. FOSSUM

    2006-05-25

    This study performs a cost and schedule analysis of three Nevada Transportation options that support waste receipt at the repository. Based on the U.S. Department of Energy preference for rail transportation in Nevada (given in the Final Environmental Impact Statement), it has been assumed that a branch rail line would be constructed to support waste receipt at the repository. However, due to potential funding constraints, it is uncertain when rail will be available. The three Nevada Transportation options have been developed to meet a varying degree of requirements for transportation and to provide cost variations used in meeting the funding constraints given in the Technical Direction Letter guidelines for this study. The options include combinations of legal-weight truck, heavy-haul truck, and rail. Option 1 uses a branch rail line that would support initial waste receipt at the repository in 2010. Rail transportation would be the primary mode, supplemented by legal weight trucks. This option provides the highest level of confidence in cost and schedule, lowest public visibility, greatest public acceptability, lowest public dose, and is the recommended option for support of waste receipt. The completion of rail by 2010 will require spending approximately $800 million prior to 2010. Option 2 uses a phased rail approach to address a constrained funding scenario. To meet funding constraints, Option 2 uses a phased approach to delay high cost activities (final design and construction) until after initial waste receipt in 2010. By doing this, approximately 95 percent of the cost associated with completion of a branch rail line is deferred until after 2010. To support waste receipt until a branch rail line is constructed in Nevada, additional legal-weight truck shipments and heavy-haul truck shipments (on a limited basis for naval spent nuclear fuel) would be used to meet the same initial waste receipt rates as in Option 1. Use of heavy-haul shipments in the absence

  7. Average American 15 Pounds Heavier Than 20 Years Ago

    Science.gov (United States)

    ... page: https://medlineplus.gov/news/fullstory_160233.html Average American 15 Pounds Heavier Than 20 Years Ago ... since the late 1980s and early 1990s, the average American has put on 15 or more additional ...

  8. Managing coherence via put/get windows

    Science.gov (United States)

    Blumrich, Matthias A [Ridgefield, CT; Chen, Dong [Croton on Hudson, NY; Coteus, Paul W [Yorktown Heights, NY; Gara, Alan G [Mount Kisco, NY; Giampapa, Mark E [Irvington, NY; Heidelberger, Philip [Cortlandt Manor, NY; Hoenicke, Dirk [Ossining, NY; Ohmacht, Martin [Yorktown Heights, NY

    2012-02-21

    A method and apparatus for managing coherence between two processors of a two processor node of a multi-processor computer system. Generally the present invention relates to a software algorithm that simplifies and significantly speeds the management of cache coherence in a message passing parallel computer, and to hardware apparatus that assists this cache coherence algorithm. The software algorithm uses the opening and closing of put/get windows to coordinate the activated required to achieve cache coherence. The hardware apparatus may be an extension to the hardware address decode, that creates, in the physical memory address space of the node, an area of virtual memory that (a) does not actually exist, and (b) is therefore able to respond instantly to read and write requests from the processing elements.

  9. Putting dental mercury pollution into perspective.

    Science.gov (United States)

    Jones, D W

    2004-08-28

    This paper deals with the issue of amalgam waste from dental offices. The aim is to put into perspective the very small contribution of dental mercury to the overall volume of mercury discharged into the environment each year. While the amount discharged from dental offices is very small compared to other sources, the amount discharged into the environment from amalgam fillings in people's mouths is estimated as less than 2% of the amount from dental offices. At least 50% of mercury in the environment comes from natural sources. The major source of man-made mercury pollution is the industrial burning of fossil fuels. It is important to distinguish between inorganic mercury and organic mercury in terms of the impact on the health of the population.

  10. Managing coherence via put/get windows

    Energy Technology Data Exchange (ETDEWEB)

    Blumrich, Matthias A. (Ridgefield, CT); Chen, Dong (Croton on Hudson, NY); Coteus, Paul W. (Yorktown Heights, NY); Gara, Alan G. (Mount Kisco, NY); Giampapa, Mark E. (Irvington, NY); Heidelberger, Philip (Cortlandt Manor, NY); Hoenicke, Dirk (Ossining, NY); Ohmacht, Martin (Yorktown Heights, NY)

    2011-01-11

    A method and apparatus for managing coherence between two processors of a two processor node of a multi-processor computer system. Generally the present invention relates to a software algorithm that simplifies and significantly speeds the management of cache coherence in a message passing parallel computer, and to hardware apparatus that assists this cache coherence algorithm. The software algorithm uses the opening and closing of put/get windows to coordinate the activated required to achieve cache coherence. The hardware apparatus may be an extension to the hardware address decode, that creates, in the physical memory address space of the node, an area of virtual memory that (a) does not actually exist, and (b) is therefore able to respond instantly to read and write requests from the processing elements.

  11. 77 FR 57602 - Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing of Proposed...

    Science.gov (United States)

    2012-09-18

    ... to solicit comments on the proposed rule change from interested persons. \\1\\ 15 U.S.C. 78s(b)(1). \\2... Release No. 34-66090 (January 3, 2012), 77 FR 1107 (January 9, 2012) (SR-OCC-2011-19). OTC Options OCC has... are exchange-traded put and call options that allow for customization of certain terms. For...

  12. Emotional speculative behavior in the option market

    Directory of Open Access Journals (Sweden)

    Francesco Corea

    2016-01-01

    Full Text Available Social media data have been proved to be effective in augmenting stock price forecasting models before ([8], [12], but given the intrinsic speculative nature of traders who may use these innovative datasets, it appears more reasonable to investigate the relation between the Twitter data and the stock option prices. The underlying hypothesis is indeed that speculative trading strategies as the ones based on social media inference are may be more effective if evaluated on speculative instruments instead of simple stock prices. Consistent with previous works, it has been then studied on an intraday basis for three major technology stocks over a two-month period the relation between investors’ sentiment and basic financial products. A set of different variables has been created to include different interactions between sentiment and option prices, and a statistical selection model has been put in charge of identifying the most relevant correlations. The results are quite mixed: social media data seem to be indeed useful for predicting some option prices, but no others, and in particular are able to better explain single companies’ option price oscillations rather than the ones related to general indexes such as the Nasdaq-100.

  13. Should You Put Sunscreen on Infants? Not Usually

    Science.gov (United States)

    ... Consumers Home For Consumers Consumer Updates Should You Put Sunscreen on Infants? Not Usually Share Tweet Linkedin ... month-old baby is there, too. Should you put sunscreen on her? Not usually, according to Hari ...

  14. What Are the Factors That Put a Pregnancy at Risk?

    Science.gov (United States)

    ... Resources and Publications What are the factors that put a pregnancy at risk? Skip sharing on social ... hearing problems. 7 Cigarette smoking. Smoking during pregnancy puts the fetus at risk for preterm birth, certain ...

  15. Researchers Put Embryo Development 'On Hold' in Mice

    Science.gov (United States)

    ... medlineplus.gov/news/fullstory_162187.html Researchers Put Embryo Development 'On Hold' in Mice Putting stem cells ... were able to halt development of early mouse embryos for up to a month in the lab ...

  16. Traffic Light Options

    DEFF Research Database (Denmark)

    Jørgensen, Peter Løchte

    This paper introduces, prices, and analyzes traffic light options. The traffic light option is an innovative structured OTC derivative developed independently by several London-based investment banks to suit the needs of Danish life and pension (L&P) companies, which must comply with the traffic...... light solvency stress test system introduced by the Danish Financial Supervisory Authority (DFSA) in June 2001. This monitoring system requires L&P companies to submit regular reports documenting the sensitivity of the companies' base capital to certain pre-defined market shocks - the red and yellow...... light scenarios. These stress scenarios entail drops in interest rates as well as in stock prices, and traffic light options are thus designed to pay off and preserve sufficient capital when interest rates and stock prices fall simultaneously. Sweden's FSA implemented a traffic light system in January...

  17. Central Station Design Options

    DEFF Research Database (Denmark)

    2011-01-01

    The purpose of EDISON Work Package 4.1 is the evaluation of possible Central (charging) Stations design options for making possible the public charging of Electric Vehicles (EVs). A number of scenarios for EVs are assessed, with special emphasis on the options of Fast Charging and Battery Swapping....... The work identifies the architecture, sizing and siting of prospective Central Stations in Denmark, which can be located at shopping centers, large car parking lots or gas stations. Central Stations are planned to be integrated in the Danish distribution grid. The Danish island of Bornholm, where a high.......g. due to vandalism, the charge supply circuit is disconnected. More electrical vehicles on the market are capable today of quick charging up to 50 kW power level. The feasibility of Central Stations with fast charging/swapping option, their capacity, design, costs and grid impact, as well as battery...

  18. National preventive plan: putting stewardship into practice

    Directory of Open Access Journals (Sweden)

    Antonio Federici

    2012-06-01

    Full Text Available According to the WHO-European region Tallin-Charter, Stewardship (S is on the health agenda of many European countries and in particular of those involved in the devolution of powers, as is the case of Italy. Many observers agree that, in such cases, both the configuration and the application of state authority in the health sector should be realigned so as to achieve desired policy objectives.We present an experience of what could be meant by S in practice, applied to the field of planning preventive interventions.The Italian National Preventive Plan 2010-2012 is a comprehensive Plan dealing with many areas of prevention. For all these areas, the main health objectives, the specific regional goals and the intervention - called “central" actions- that the Ministry of Health (MoH is in charge of carrying out in order to support regional preventive programs, are stated in this Plan. In order to carry out its task, the MoH has referred to the model of stewardship and has reconsidered its role. Therefore, the MoH has matched the sub-functions of S according to the model outlined by Travis et al, and the prior actions that have been proposed by local and national governments, as the main aspects of how to deal with the governance of prevention. Overall, we experienced that the S framework is a suitable and helpful tool to tackle what the challenge of national planning, in the scenario of devolution, is. In doing so, we have learnt some practical lessons about the running of the system and about how to plan according to stewardship, in particular.Among these, given that the steward’s most specific responsibility in planning is to assure stewardship, a sound capacity building is needed as a cornerstone in evolving the culture of the NHS. Furthermore, in order to put this effectively into practice, the Steward must be able to measure S functions, and putting in practice a S model needs international comparison and cultural growth....

  19. Thermal test options

    Energy Technology Data Exchange (ETDEWEB)

    Koski, J.A.; Keltner, N.R.; Sobolik, K.B.

    1993-02-01

    Shipping containers for radioactive materials must be qualified to meet a thermal accident environment specified in regulations, such at Title 10, Code of Federal Regulations, Part 71. Aimed primarily at the shipping container design, this report discusses the thermal testing options available for meeting the regulatory requirements, and states the advantages and disadvantages of each approach. The principal options considered are testing with radiant heat, furnaces, and open pool fires. The report also identifies some of the facilities available and current contacts. Finally, the report makes some recommendations on the appropriate use of these different testing methods.

  20. Fluorosis varied treatment options

    Directory of Open Access Journals (Sweden)

    Sherwood I

    2010-01-01

    Full Text Available Fluorosis has been reported way back in 1901. The treatment options for fluorosis are varied depending upon individual cases. This article comes from Madurai in India where its surrounding towns are fluorosis-prone zones. The purpose of this article is to report various treatment options available for dental fluorosis; this is the first time that complete full mouth rehabilitation for dental fluorosis is being reported. This article also dwells on the need for the dentists to be aware of their local indigenous pathologies to treat it in a better manner.

  1. The hydrogen hybrid option

    Energy Technology Data Exchange (ETDEWEB)

    Smith, J.R.

    1993-10-15

    The energy efficiency of various piston engine options for series hybrid automobiles are compared with conventional, battery powered electric, and proton exchange membrane (PEM) fuel cell hybrid automobiles. Gasoline, compressed natural gas (CNG), and hydrogen are considered for these hybrids. The engine and fuel comparisons are done on a basis of equal vehicle weight, drag, and rolling resistance. The relative emissions of these various fueled vehicle options are also presented. It is concluded that a highly optimized, hydrogen fueled, piston engine, series electric hybrid automobile will have efficiency comparable to a similar fuel cell hybrid automobile and will have fewer total emissions than the battery powered vehicle, even without a catalyst.

  2. Tourism's collapse puts Gambian women at risk.

    Science.gov (United States)

    Coker, M S

    1995-06-01

    Despite efforts of the Gambian government, which established a ministry in 1981 that would tackle gender issues, improve women's health, and promote empowerment, women are underrepresented in government and business, and 84% are illiterate. Child mortality is among the highest in Africa; 134 children per 1000 die before their fifth birthday. In the mid-1980s austerity measures adopted by the World Bank and IMF left the ministry without funds. Rice and vegetable production, the main source of income for women, fell in the 1990s. In 1994, paddy production dropped 23% from the previous year; this was due to a lack of technical and financial assistance. The collapse of tourism with Capt. Yahya Jammeh's seizure of power has put prostitutes catering to tourists out of work, but women who have lost jobs in the hotel industry may be pushed into local prostitution to survive. The impact of this on the HIV/AIDS epidemic is unclear. Although Gambia is one of the world's most aid-dependent countries (more than a quarter of the GNP before the coup), corruption and mismanagement in the nongovernmental sector is widespread. The director of the Women in Development Programme, a $15m World Bank project, was forced to resign over allegations of fraud. The political process sidelines women; only village chiefs, who are traditionally men, are allowed to vote when new heads are elected.

  3. Putting in place the LHC computing organization

    CERN Multimedia

    Akesson, T

    2001-01-01

    Following the CERN review of computing, the ball is in the able hands of the CERN directorate to translate the review recommendations into the implementation of a LHC computing organization. From the ATLAS point of view it is rather clear what is needed: A credible set-up that can get into place the total computing infrastructure to match ATLAS global computing requirements, and not just at CERN. The next six months will demonstrate if CERN is on a good track to get operational an organization that can tackle this global challenge. CERN put forward to the 15th of June Council a paper that invites comments on a LHC Computing Grid Project as part of the CERN base program. In particular, it asked for new resources, of 25+25 MCHF, for CERN to build the CERN-part of a prototype that should be matched to the need of the experiments for the forthcoming data challenges. The intention of CERN now is to discuss with member-states in July to establish a sufficient resource-base to get approval at the September Commit...

  4. Our Energy Options.

    Science.gov (United States)

    Meyers, Paul A.; Witt, Frank C.

    Presented is an analysis of alternatives available to the United States in dealing with energy problems. Options explained and evaluated include coal, solar, hydroelectric, nuclear, geothermal, wind, biomass, and energy conservation. The booklet is part of Project APEC (America's Possible Energy Choices), a nationally validated Title IVc project…

  5. Idaho's Energy Options

    Energy Technology Data Exchange (ETDEWEB)

    Robert M. Neilson

    2006-03-01

    This report, developed by the Idaho National Laboratory, is provided as an introduction to and an update of the status of technologies for the generation and use of energy. Its purpose is to provide information useful for identifying and evaluating Idaho’s energy options, and for developing and implementing Idaho’s energy direction and policies.

  6. Putting Technology Into Youth Mental Health Practice

    Directory of Open Access Journals (Sweden)

    Alice E. Montague

    2015-04-01

    Full Text Available Although young people aged 16 to 25 are particularly susceptible to mental ill-health, they are difficult to engage in ongoing treatment. Meanwhile, young people are more engaged with digital technologies than ever before, with the Internet and mobile technologies reaching ubiquity in young lives. Despite this, it is unclear from the literature how young people’s high technology use may be harnessed for the better management of youth mental health problems in face-to-face treatment. To explore young people’s opinions on how technology can be used for treatment engagement and as a complement to mental health treatment, a total of 21 participants aged 16 to 25 years were consulted in two focus groups. Transcripts were analyzed using thematic analysis, with consensus coding by two independent raters. Participants were positive about the integration of technology into youth mental health practice, but indicated that identifying the client’s preferred technology was the most reliable means of engagement. They reported already using technology as an informal complement to treatment, and asserted that formal technology integration must have a clear benefit to treatment while not replacing face-to-face time. Technology use to provide support beyond discharge and between sessions was suggested as a useful means for continuity of care and to prevent relapse. While various technologies were described as engaging, easy-to-access, informative, and empowering, their benefits are not yet being harnessed in youth health services to their full potential. More research is required to better understand how to best put technology into youth mental health practice.

  7. Putting quality of life on the agenda.

    Science.gov (United States)

    Kitatani, K

    1991-01-01

    At the Population and Natural Resources Workshop of the World Conservation Union (IUCN) General Assembly in Perth, Australia, December 1990, population and quality of life issues were stressed as one of the central items to be placed on the 1992 Agenda of the UN Conference on Environment. The pace of environmental degradation is quickening, the causes are becoming more entrenched, and indecision will narrow our options. Poverty and population growth are making development unsustainable. Technological miracles will not appear to restore balance. Deforestation, soil erosion, decertification and loss of water resources are fueling urbanization. Therefore the World Commission on Environment and Development, known as the Brundtland Commission, ranks human resources development as a top priority in sustainable development and quality of life. Human resources can be improved by providing maternal and child care, family planning and improving the status of women. Successful family planning programs as seen in Thailand and Malaysia can show results very quickly once national population policies, institutions and capacity are in place.

  8. How federalism shapes public health financing, policy, and program options.

    Science.gov (United States)

    Ogden, Lydia L

    2012-01-01

    In the United States, fiscal and functional federalism strongly shape public health policy and programs. Federalism has implications for public health practice: it molds financing and disbursement options, including funding formulas, which affect allocations and program goals, and shapes how funding decisions are operationalized in a political context. This article explores how American federalism, both fiscal and functional, structures public health funding, policy, and program options, investigating the effects of intergovernmental transfers on public health finance and programs.

  9. Energy options?; Energie opties?

    Energy Technology Data Exchange (ETDEWEB)

    Van Sark, W. (ed.)

    2006-05-15

    March 2006 the so-called Options Document was published by the Energy research Centre of the Netherlands (ECN) and the Netherlands Environmental Assessment Agency (MNP). The document is an overview of technical options to reduce energy consumption and emission of greenhouse gases up to 2020. Next to a brief summary of the document a few reactions and comments on the contents of the document are given. [Dutch] Maart 2006 publiceerde het Energieonderzoek Centrum Nederland (ECN) en het Milieu- en Natuurplanbureau (MNP) het zogenaamde Optiedocument energie en emissies 2010-2020. Daarin wordt een overzicht gegeven van de technische mogelijkheden voor vermindering van het energieverbruik en de uitstoot van broeikasgassen en luchtverontreinigende stoffen tot 2020. Naast een korte samenvatting van het document worden enkele reacties gegeven op de inhoud.

  10. Osteoporosis: Therapeutic Options.

    Science.gov (United States)

    Ivanova, Stefka; Vasileva, Liliya; Ivanova, Stanislava; Peikova, Lily; Obreshkova, Danka

    2015-01-01

    The definition of osteoporosis was originally formulated at a conference of the World Health Organization (WHO) in 1993 as 'a systemic skeletal disease characterized by decreased bone mass and altered micro-architecture of bone tissue, leading to enhanced bone fragility and risk of fractures'. Osteoporosis is characterized by low bone mineral density (BMD) and loss of the structural and bio-mechanical properties that are required to maintain bone homeostasis. This review aims to address the currently available options in prevention and treatment of osteoporosis. Management of osteoporosis includes non-pharmacological treatment - diet rich of calcium and vitamin D, healthy lifestyle, proper exercise plan, and pharmacological therapy. Combination of non-pharmacological and pharmacological treatment options have to be considered for prevention of osteoporosis and minimization of the risk of fractures. Given the heterogeneity of osteoporosis syndrome and lack of significant number of comparative studies, the choice of a pharmacological agents should be individualized.

  11. Osteoporosis: Therapeutic Options

    Directory of Open Access Journals (Sweden)

    Ivanova Stefka

    2015-12-01

    Full Text Available The definition of osteoporosis was originally formulated at a conference of the World Health Organization (WHO in 1993 as ‘a systemic skeletal disease characterized by decreased bone mass and altered micro-architecture of bone tissue, leading to enhanced bone fragility and risk of fractures’. Osteoporosis is characterized by low bone mineral density (BMD and loss of the structural and bio-mechanical properties that are required to maintain bone homeostasis. This review aims to address the currently available options in prevention and treatment of osteoporosis. Management of osteoporosis includes non-pharmacological treatment - diet rich of calcium and vitamin D, healthy lifestyle, proper exercise plan, and pharmacological therapy. Combination of non-pharmacological and pharmacological treatment options have to be considered for prevention of osteoporosis and minimization of the risk of fractures. Given the heterogeneity of osteoporosis syndrome and lack of significant number of comparative studies, the choice of a pharmacological agents should be individualized.

  12. Management options of varicoceles

    Directory of Open Access Journals (Sweden)

    Peter Chan

    2011-01-01

    Full Text Available Varicocele is one of the most common causes of male infertility. Treatment options for varicoceles includes open varicocelectomy performed at various anatomical levels. Laparoscopic varicocelectomy has been established to be a safe and effective treatment for varicoceles. Robotic surgery has been introduced recently as an alternative surgical option for varicocelectomy. Microsurgical varicocelectomy has gained increasing popularity among experts in male reproductive medicine as the treatment of choice for varicocele because of its superior surgical outcomes. There is a growing volume of literature in the recent years on minimal invasive varicocele treatment with percutaneous retrograde and anterograde venous embolization/sclerotherapy. In this review, we will discuss the advantages and limitations associated with each treatment modality for varicoceles. Employment of these advanced techniques of varicocelectomy can provide a safe and effective approach aiming to eliminate varicocele, preserve testicular function and, in a substantial number of men, increase semen quality and the likelihood of pregnancy.

  13. Treatment Options for Narcolepsy

    OpenAIRE

    Barateau, Lucie; Lopez, Régis; Dauvilliers, Yves

    2016-01-01

    International audience; Narcolepsy type 1 and narcolepsy type 2 are central disorders of hypersomnolence. Narcolepsy type 1 is characterized by excessive daytime sleepiness and cataplexy and is associated with hypocretin-1 deficiency. On the other hand, in narcolepsy type 2, cerebrospinal fluid hypocretin-1 levels are normal and cataplexy absent. Despite major advances in our understanding of narcolepsy mechanisms, its current management is only symptomatic. Treatment options may vary from a ...

  14. Novel operative treatment options.

    Science.gov (United States)

    Ricketts, D N J; Pitts, N B

    2009-01-01

    There are an increasing number of more novel options available for operative intervention. This chapter outlines a series of operative treatment options which are available to the modern clinician to select from once a decision has been made to treat a carious lesion operatively. A series of novel methods of caries removal have been described; including chemomechanical caries removal, air abrasion, sono-abrasion, polymer rotary burs and lasers. There are also novel approaches to ensure complete caries removal and novel approaches for the management of deep caries. A novel question increasingly asked by clinicians is: does all the caries need to be removed? Operative management options here include: therapeutic fissure sealants, ultraconservative caries removal, stepwise excavation and the Hall technique. In conclusion, there is now a growing wealth of evidence that questions the traditional methods of caries removal and restoring the tooth. In parallel, there is a growing movement exploring the merits of therapeutically sealing caries into the tooth. This philosophy is alien to many of today's dentists and, until further randomized controlled trials are carried out in primary care, prudent caution must be exercised with this promising approach. Research is required into techniques which will allow monitoring of sealed caries to detect any rare, but insidious, failures. These novel techniques are an alternative way of managing the later stages of the caries process from a sounder biological basis and have marked potential benefits to patients from treatment, pain and outcome perspectives. Copyright 2009 S. Karger AG, Basel

  15. The safeguards options study

    Energy Technology Data Exchange (ETDEWEB)

    Hakkila, E.A.; Mullen, M.F.; Olinger, C.T.; Stanbro, W.D. [Los Alamos National Lab., NM (United States); Olsen, A.P.; Roche, C.T.; Rudolph, R.R. [Argonne National Lab., IL (United States); Bieber, A.M.; Lemley, J. [Brookhaven National Lab., Upton, NY (United States); Filby, E. [Idaho National Engineering Lab., Idaho Falls, ID (United States)] [and others

    1995-04-01

    The Safeguards Options Study was initiated to aid the International Safeguards Division (ISD) of the DOE Office of Arms Control and Nonproliferation in developing its programs in enhanced international safeguards. The goal was to provide a technical basis for the ISD program in this area. The Safeguards Options Study has been a cooperative effort among ten organizations. These are Argonne National Laboratory, Brookhaven National Laboratory, Idaho National Engineering Laboratory, Lawrence Livermore National Laboratory, Los Alamos National Laboratory, Mound Laboratory, Oak Ridge National Laboratory, Pacific Northwest Laboratories, Sandia National Laboratories, and Special Technologies Laboratory. Much of the Motivation for the Safeguards Options Study is the recognition after the Iraq experience that there are deficiencies in the present approach to international safeguards. While under International Atomic Energy Agency (IAEA) safeguards at their declared facilities, Iraq was able to develop a significant weapons program without being noticed. This is because negotiated safeguards only applied at declared sites. Even so, their nuclear weapons program clearly conflicted with Iraq`s obligations under the Nuclear Nonproliferation Treaty (NPT) as a nonnuclear weapon state.

  16. Deliberating emission reduction options

    Energy Technology Data Exchange (ETDEWEB)

    Dowd, A.M.; Rodriguez, M.; Jeanneret, T. [Commonwealth Scientific and Industrial Research Organisation CSIRO, 37 Graham Rd, Highett VIC 3190 (Australia); De Best-Waldhober, M.; Straver, K.; Mastop, J.; Paukovic, M. [Energy research Centre of the Netherlands ECN, Policy Studies, Amsterdam (Netherlands)

    2012-06-15

    For more than 20 years there has been a concerted international effort toward addressing climate change. International conventions, such as the United Nations Foreign Convention on Climate Change (UNFCCC; ratified in 1994), have been established by committed nations seeking to address global climate change through the reduction of greenhouse gases emitted into the Earth's atmosphere (Global CCS Institute, 2011). Long recognised as the most crucial of the greenhouse gases to impact global warming, the majority of carbon dioxide's anthropogenic global emissions are directly related to fuel combustion of which both Australia and the Netherlands' energy production is significantly reliant. Both these nations will need to consider many opinions and make hard decisions if alternative energy options are to be implemented at the scale that is required to meet international emission targets. The decisions that are required not only need to consider the many options available but also their consequences. Along with politicians, policy developers and industry, the general public also need to be active participants in deciding which energy options, and their subsequent consequences, are acceptable for implementation at the national level. Access to balanced and factual information is essential in establishing informed opinions on the many policy options available. Past research has used several methods to measure public perceptions and opinions yet for complex issues, such as emission reduction, some of these methods have shown to be problematic. For example, semi structured interviews can provide data that is flexible and context rich yet is does also come with the limitations such as it seldom provides a practical assessment that can be utilised from researcher to researcher, across disciplines and public participation techniques. Surveys on the other hand usually address these limitations but surveys that do not encourage comparison of information or ask

  17. Second line treatment options for pancreatic cancer.

    Science.gov (United States)

    Passero, Frank C; Saif, Muhammad Wasif

    2017-08-18

    ABTRACT Introduction: Patients with advanced pancreatic cancer (APC) refractory to first-line therapy have a dismal prognosis and limited therapeutic options, with only one option consisting of nanoliposomal irinotecan in combination with fluorouracil and folinic acid which was approved by FDA based upon results of the phase III NAPOLI-1 study. Areas covered: We performed a literature search for relevant published clinical trials, abstracts of trials in progress and ongoing or planned trials for the second line treatment of APC using Pubmed.com, ClinicalTrials.gov and American Society of Clinical Oncology (ASCO) abstract search as sources. We present an in-depth analysis of the phase I-III clinical trials determining the role and efficacy of second-line treatment in patients with APC. We also describe ongoing studies and rationale for future investigation. Expert opinion: Despite advances in first-line therapy such as gemcitabine/nab-paclitaxel and FOLFIRINOX in APC, median overall survival remains less than 12 months, highlighting the need to develop second-line therapies. In order to establish much needed effective second-line treatment options, we need cooperative efforts among institutions and community practices in enrolling these refractory patients in clinical trials. It should be emphasized that in addition to chemotherapy options, all patients should have the opportunity to consult with nutritionist, social worker and palliative care health providers to assist with goals of care, symptom management and end of life discussions.

  18. Putting the Blue,Black,and Red in the Red,White,and Blue: Langston Hughts and the Emergence of the Blues in American Literature%兰斯顿·休斯与布鲁士在美国文学中的兴起

    Institute of Scientific and Technical Information of China (English)

    史蒂文·C·特雷西

    2008-01-01

    This paper will discuss the emergence of the blues into American literature,focusing on Langston Hughes's work in the context of folklore studies,sheet music and commercial recordings,Jazz Age aesthetics,and Leftist politics.Hughes's use of dialect in his poetry,of course,was preceded by the important work of realist and local color writers such as James Whitcomb Riley,Mark Twain,Southwestern humorists,Daniel Webster Davis,James Edwin Campbell,and especially Paul Laurence Dunbar (whose musicality Hughes also echoed).The emergence of collections of blues in American folklore studies by such authors as Howard W.Odum,Guy B.Johnson,Gates Thomas,Dorothy Scarborough,Prescott Webb and others,as well as the emergence of blues on sheet music by Antonio Maggio,Hart Wand and W.C.Handy,assisted in creating an interest in intellectual and popular culture circles that helped make it possible for Hughes to have his poetic experiments with blues and jazz be acceptable,at least to some audiences.Hughes's distinctive contributions and importance will be examined in this context,as well as in the criticism and poetry of James Weldon Johnson and Alain Locke,the American Songbag of Carl Sandburg,the "Black Ulysses" novels of Howard W.Odum,Sterling Brown's experiments with dialect and blues and jazz materials,the journal Blues:A Magazine of New Rhythms,and the leftist folk song movement of the 1920s and 1930s that helped usher African American folk music into the Popular Front scene,political appearances,supper clubs like the Café Society,the "From Spirituals to Swing" concerts,and mainstream American music.%本文将在民间传说研究、活页乐谱与商业唱片、爵士时期美学和左派政治等多个语境中研究兰斯顿·休斯的作品,探讨布鲁士在美国文学中的兴起.当然,使用方言写诗并非休斯首创,在他之前,詹姆斯·莱利和马克·吐温等现实主义的和具有地方色彩的作家丹尼尔·戴维斯和詹姆斯·坎贝尔等西南

  19. For the last time: stock options are an expense.

    Science.gov (United States)

    Bodie, Zvi; Kaplan, Robert S; Merton, Robert C

    2003-03-01

    Should stock options be recorded as an expense on a company's income statement and balance sheet, or should they remain where they are, relegated to footnotes? The extraordinary boom in share prices during the Internet bubble made critics of option expensing look like spoilsports. But since the crash, the debate has returned with a vengeance. And no wonder: The authors believe the case for expensing options is overwhelming. In this article, Nobel Iaureate Robert Merton, one of the inventors of the Black-Scholes option-pricing model; his coauthor on the classic textbook Finance, Zvi Bodie; and Robert Kaplan, creator of the Balanced Scorecard, examine and dismiss the principal claims put forward by those who continue to oppose options expensing. They demonstrate that stock-option grants do indeed have real cash-flow implications that need to be reported. They show that effective ways certainly exist to quantify those implications. They detail the distortions that relegating stock-option accounting to footnotes creates. And they show why reporting option costs should in no way hamper young companies in their efforts to provide incentives. Options are indeed a powerful incentive, the authors agree, and failing to record a transaction that creates such powerful effects is economically indefensible. Worse, it encourages companies to favor options over alternative incentive systems. It is not the proper role of accounting standards, the authors argue, to distort executive and employee compensation by subsidizing one particular form of compensation and no other. Companies should choose compensation methods according to their economic benefits--not the way they are reported.

  20. [Interventional neuroradiology: current options].

    Science.gov (United States)

    Szikora, István; Marosfői, Miklós; Berentei, Zsolt; Gubucz, István

    2015-04-26

    Modern interventional neuroradiology has a leading role in the treatment of ischemic and hemorrhagic stroke, and it provides more and more important treatment options for degenerative diseases of the vertebral column and the management of correlated pain. During the last decades interventional neuroradiology has played a primary role in the treatment of intracranial berry aneurysms due to the continuous technical improvements. Ongoing studies proved superiority of mechanical stent-thrombectomy in acute proximal occlusion of cerebral arteries. Less invasive neurointerventional methods, such as vertebroplasty, are widely used in osteoporotic and neoplastic pathologic fractures of the vertebral bodies. These treatments should be performed in a specialized center by well trained physicians.

  1. Achilles tendinosis: treatment options.

    Science.gov (United States)

    Lopez, Roberto Gabriel L; Jung, Hong-Geun

    2015-03-01

    Athletes usually complain of an ongoing or chronic pain over the Achilles tendon, but recently even non-athletes are experiencing the same kind of pain which affects their daily activities. Achilles tendinosis refers to a degenerative process of the tendon without histologic or clinical signs of intratendinous inflammation. Treatment is based on whether to stimulate or prevent neovascularization. Thus, until now, there is no consensus as to the best treatment for this condition. This paper aims to review the common ways of treating this condition from the conservative to the surgical options.

  2. Effect of Putting Grip on Eye and Head Movements During the Golf Putting Stroke

    Directory of Open Access Journals (Sweden)

    George K. Hung

    2003-01-01

    Full Text Available The objective of this article is to determine the effect of three different putting grips (conventional, cross-hand, and one-handed on variations in eye and head movements during the putting stroke. Seven volunteer novice players, ranging in age from 21 to 22 years, participated in the study. During each experimental session, the subject stood on a specially designed platform covered with artificial turf and putted golf balls towards a standard golf hole. The three different types of grips were tested at two distances: 3 and 9 ft. For each condition, 20 putts were attempted. For each putt, data were recorded over a 3-s interval at a sampling rate of 100 Hz. Eye movements were recorded using a helmet-mounted eye movement monitor. Head rotation about an imaginary axis through the top of the head and its center-of-rotation was measured by means of a potentiometer mounted on a fixed frame and coupled to the helmet. Putter-head motion was measured using a linear array of infrared phototransistors embedded in the platform. The standard deviation (STD, relative to the initial level was calculated for eye and head movements over the duration of the putt (i.e., from the beginning of the backstroke, through the forward stroke, to impact. The averaged STD for the attempted putts was calculated for each subject. Then, the averaged STDs and other data for the seven subjects were statistically compared across the three grip conditions. The STD of eye movements were greater (p < 0.1 for conventional than cross-hand (9 ft and one-handed (3 and 9 ft grips. Also, the STD of head movements were greater (p < 0.1; 3 ft for conventional than cross-hand and one-handed grips. Vestibulo-ocular responses associated with head rotations could be observed in many 9 ft and some 3 ft putts. The duration of the putt was significantly longer (p < 0.05; 3 and 9 ft for the one-handed than conventional and cross-hand grips. Finally, performance, or percentage putts made, was

  3. Retrieval options study

    Energy Technology Data Exchange (ETDEWEB)

    1980-03-01

    This Retrieval Options Study is part of the systems analysis activities of the Office of Nuclear Waste Isolation to develop the scientific and technological bases for radioactive waste repositories in various geologic media. The study considers two waste forms, high level waste and spent fuel, and defines various classes of waste retrieval and recovery. A methodology and data base are developed which allow the relative evaluation of retrieval and recovery costs and the following technical criteria: safety; technical feasibility; ease of retrieval; probable intact retrieval time; safeguards; monitoring; criticality; and licensability. A total of 505 repository options are defined and the cost and technical criteria evaluated utilizing a combination of facts and engineering judgments. The repositories evaluated are selected combinations of the following parameters: Geologic Media (salt, granite, basalt, shale); Retrieval Time after Emplacement (5 and 25 years); Emplacement Design (nominal hole, large hole, carbon steel canister, corrosion resistant canister, backfill in hole, nominal sleeves, thick wall sleeves); Emplacement Configuration (single vertical, multiple vertical, single horizontal, multiple horizontal, vaults; Thermal Considerations; (normal design, reduced density, once-through ventilation, recirculated ventilation); Room Backfill; (none, run-of-mine, early, 5 year delay, 25 year delay, decommissioned); and Rate of Retrieval; (same as emplacement, variably slower depending on repository/canister condition).

  4. Mixed waste management options

    Energy Technology Data Exchange (ETDEWEB)

    Owens, C.B.; Kirner, N.P. [EG and G Idaho, Inc., Idaho Falls, ID (United States). Idaho National Engineering Lab.

    1991-12-31

    Disposal fees for mixed waste at proposed commercial disposal sites have been estimated to be $15,000 to $40,000 per cubit foot. If such high disposal fees are imposed, generators may be willing to apply extraordinary treatment or regulatory approaches to properly dispose of their mixed waste. This paper explores the feasibility of several waste management scenarios and attempts to answer the question: Can mixed waste be managed out of existence? Existing data on commercially generated mixed waste streams are used to identify the realm of mixed waste known to be generated. Each waste stream is evaluated from both a regulatory and technical perspective in order to convert the waste into a strictly low-level radioactive or a hazardous waste. Alternative regulatory approaches evaluated in this paper include a delisting petition, no migration petition, and a treatability variance. For each waste stream, potentially available treatment options are identified that could lead to these variances. Waste minimization methodology and storage for decay are also considered. Economic feasibility of each option is discussed broadly.

  5. Treatment Options for Myopia

    Science.gov (United States)

    Gwiazda, Jane

    2009-01-01

    Myopia is a significant public health problem and its prevalence may be increasing over time. The main treatment options of single vision spectacle lenses, contact lenses, and refractive surgery do not slow the accompanying eye growth or retard the physiological changes associated with excessive axial elongation. High myopia is a predisposing factor for retinal detachment, myopic retinopathy, and glaucoma, contributing to loss of vision and blindness. The high prevalence of myopia and its prominence as a public health problem emphasize the importance of finding effective treatments that slow myopia progression and axial elongation. Treatments that have been investigated include various types of spectacle lenses and contact lenses, as well as pharmaceutical agents such as atropine and pirenzepine. The bulk of evidence from well-conducted studies shows that overall, most therapies for myopia have small treatment benefits that last for a relatively short period of time or have significant side effects. Some therapies may be more effective in subsets of myopic children. This review of treatment options for myopia will emphasize recent results from well-designed clinical studies and will suggest possible future therapies. PMID:19390466

  6. Achalasia: Treatment Options Revisited

    Directory of Open Access Journals (Sweden)

    Willemijntje A Hoogerwerf

    2000-01-01

    Full Text Available The aim of all current forms of treatment of achalasia is to enable the patient to eat without disabling symptoms such as dysphagia, regurgitation, coughing or choking. Historically, this has been accomplished by mechanical disruption of the lower esophageal sphincter fibres, either by means of pneumatic dilation (PD or by open surgical myotomy. The addition of laparoscopic myotomy and botulinum toxin (BTX injection to the therapeutic armamentarium has triggered a recent series of reviews to determine the optimal therapeutic approach. Both PD and BTX have excellent short term (less than three months efficacy in the majority of patients. New data have been published that suggest that PD and BTX (with repeat injections can potentially obtain long term efficacy. PD is still considered the first-line treatment by most physicians; its main disadvantage is risk of perforation. BTX injection is evolving as an excellent, safe option for patients who are considered high risk for more invasive procedures. Laparoscopic myotomy with combined antireflux surgery is an increasingly attractive option in younger patients with achalasia, but long term follow-up studies are required to establish its efficacy and the potential for reflux-related sequelae.

  7. Portrait of Urie Bronfenbrenner, Options in Education. Program No. 286.

    Science.gov (United States)

    George Washington Univ., Washington, DC. Inst. for Educational Leadership.

    In this transcript from a National Public Radio "Options in Education" broadcast, Uri Bronfenbrenner, professor of psychology and family sociology at Cornell University, discusses his three "Preposterous Propositions" for strengthening American family structure and society. Each of Bronfenbrenner's propositions is presented and explained,…

  8. Laplace transforms and the American straddle

    Directory of Open Access Journals (Sweden)

    G. Alobaidi

    2002-01-01

    partial Laplace transform techniques due to Evans et al. (1950 to derive a pair of integral equations giving the locations of the optimal exercise boundaries for an American straddle option with a constant dividend yield.

  9. American Religion

    Institute of Scientific and Technical Information of China (English)

    田甜

    2008-01-01

    It is said that American religion,as a great part of American culture,plays an important role in American culture. It is hoped that some ideas can be obtained from this research paper,which focuses on analyzing the great impact is produced to American culture by American religion. Finally, this essay gives two useful standpoints to English learners:Understunding American religion will help understand the American history, culture and American people,and help you to communic.ate with them better. Understanding American religion will help you understand English better.

  10. Novel preventive treatment options

    DEFF Research Database (Denmark)

    Longbottom, C; Ekstrand, K; Zero, D

    2009-01-01

    to that point. These include: approximal sealants; fluoride applications, including slow-release devices; measures to help remineralize demineralized tissue, including 3 different methods of delivering amorphous calcium phosphate; measures to help modify the biofilm to reduce the cariogenic challenge, including...... ozone therapy and probiotics; measures to increase enamel resistance to demineralization, including laser treatment of enamel, and a novel 'hybrid' technique for the treatment of primary molar caries which involves 'overlapping' of secondary and tertiary prevention--the Hall technique. Although many...... of these techniques show considerable promise and dentists should be aware of these developments and follow their progress, the evidence for each of these novel preventive treatment options is currently insufficient to make widespread recommendations. Changes in dental practice should be explored to see how oral...

  11. Calculation Aspects of the European Rebalanced Basket Option using Monte Carlo Methods: Valuation

    Directory of Open Access Journals (Sweden)

    CJ van der Merwe

    2012-06-01

    Full Text Available Extra premiums can be charged to a client to guarantee a minimum payout of a contract on a portfolio that gets rebalanced on a regular basis back to fixed proportions. The valuation of this premium can be changed to that of the pricing of a European put option with underlying rebalanced portfolio. This article finds the most efficient estimators for the value of this path-dependant multi-asset put option using different Monte Carlo methods. With the help of a refined method, computing time of the value decreased significantly. Furthermore, Variance Reduction Techniques and Quasi-Monte Carlo methods delivered more accurate and faster converging estimates as well.

  12. A review of the effect of pharmaceutical firm drug announcements on stock option pricing.

    Science.gov (United States)

    Younis, Mustafa Mike Z; Younies, Hassan; Kisa, Adnan; Hartmann, Michael; Hussain, Ali Al Sayed; Al-Amro, Abdulla

    2009-01-01

    Since the Black and Sholes published their work in option pricing in 1973, there have been a great number of dissertations, theses, and articles published on options pricing. Several articles discussed American options and European options. Many articles where empirical in nature. In this article, we review some of the literature in this area and then discuss in a descriptive way the effect of pharmaceutical companies' announcements of new drugs on the market or drug withdrawals from the market on their stock options. This article should be the beginning of the discussion on how stock prices might affect the cost of drugs and the affect of the affordability of drug prices, if any.

  13. 42 CFR 435.1006 - Recipients of optional State supplements only.

    Science.gov (United States)

    2010-10-01

    ..., THE NORTHERN MARIANA ISLANDS, AND AMERICAN SAMOA Federal Financial Participation Limitations on Ffp § 435.1006 Recipients of optional State supplements only. FFP is available in expenditures for...

  14. Testing option pricing with the Edgeworth expansion

    Science.gov (United States)

    Balieiro Filho, Ruy Gabriel; Rosenfeld, Rogerio

    2004-12-01

    There is a well-developed framework, the Black-Scholes theory, for the pricing of contracts based on the future prices of certain assets, called options. This theory assumes that the probability distribution of the returns of the underlying asset is a Gaussian distribution. However, it is observed in the market that this hypothesis is flawed, leading to the introduction of a fudge factor, the so-called volatility smile. Therefore, it would be interesting to explore extensions of the Black-Scholes theory to non-Gaussian distributions. In this paper, we provide an explicit formula for the price of an option when the distributions of the returns of the underlying asset is parametrized by an Edgeworth expansion, which allows for the introduction of higher independent moments of the probability distribution, namely skewness and kurtosis. We test our formula with options in the Brazilian and American markets, showing that the volatility smile can be reduced. We also check whether our approach leads to more efficient hedging strategies of these instruments.

  15. Binomial Approximations for Barrier Options of Israeli Style

    CERN Document Server

    Dolinsky, Yan

    2009-01-01

    We show that prices and shortfall risks of game (Israeli) barrier options in a sequence of binomial approximations of the Black--Scholes (BS) market converge to the corresponding quantities for similar game barrier options in the BS market with path dependent payoffs and the speed of convergence is estimated, as well. The results are new also for usual American style options and they are interesting from the computational point of view, as well, since in binomial markets these quantities can be obtained via dynamical programming algorithms. The paper continues the study of [11]and [7] but requires substantial additional arguments in view of pecularities of barrier options which, in particular, destroy the regularity of payoffs needed in the above papers.

  16. Controversial reversal of nuclear option

    OpenAIRE

    2002-01-01

    Nuclear option is in a unique position to restore its original role of the main source of energy with an increased attention paid to the security of electricity supply as well as regulatory changes affecting fossil fuels, particularly with due introduction of climate change prevention measures. Recent developments indicate the advantages of nuclear option over other possible options in terms of sustainable development. However, a large number of controversial issues on nuclear energy make its...

  17. Cross - Currency Hedging Using Options

    OpenAIRE

    Suri, Akshay

    2006-01-01

    In today's competitive global markets, most firms are vulnerable to increasing fluctuation in foreign exchange, which is leading them to make use of Currency Derivatives to hedge their risks. Among the several derivatives available, Currency Options are the second most popular instrument used to hedge currency risk. Options are a very distinctive set of instruments that are available to hedge Currency risk. This study provides empirical evidence on why companies employ Currency Options to hed...

  18. 300,000-tonnage Crude Oil Dock Put into Operation

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    @@ Aproject of Jointly establishing 300,000-tonnage crude oil dock of Tianjin Port has been put into operations, thanks to its outut grid successfully connected with oil pipeline of Sinopec Tanggu reservior.

  19. Linerboard Machine in Hebei Yongxing Paper Put into Production

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ The construction of 6# linerboard machine (PM6) with annual output of 400,000 tons in Yongxing Paper, located in Luannan City, Hebei Province has completed and the machine was put into production in August 2009.

  20. Risky Drinking Can Put a Chill on Your Summer Fun

    Science.gov (United States)

    ... on Your Summer Fun Print version Risky Drinking Can Put a Chill on Your Summer Fun Summer ... adults involve the use of alcohol. 1 Swimmers can get in over their heads. Alcohol impairs judgment ...

  1. Zhongxian-Wuhan Natural Gas Put into Operation

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

    @@ The 1375-kilometer Zhongxian-Wuhan natural gas pipeline was put into operation on November 16 after five years of construction, starting to supply natural gas for commercial users in Central China's Hubei Province one month ahead of schedule.

  2. Option price and market instability

    Science.gov (United States)

    Baaquie, Belal E.; Yu, Miao

    2017-04-01

    An option pricing formula, for which the price of an option depends on both the value of the underlying security as well as the velocity of the security, has been proposed in Baaquie and Yang (2014). The FX (foreign exchange) options price was empirically studied in Baaquie et al., (2014), and it was found that the model in general provides an excellent fit for all strike prices with a fixed model parameters-unlike the Black-Scholes option price Hull and White (1987) that requires the empirically determined implied volatility surface to fit the option data. The option price proposed in Baaquie and Cao Yang (2014) did not fit the data during the crisis of 2007-2008. We make a hypothesis that the failure of the option price to fit data is an indication of the market's large deviation from its near equilibrium behavior due to the market's instability. Furthermore, our indicator of market's instability is shown to be more accurate than the option's observed volatility. The market prices of the FX option for various currencies are studied in the light of our hypothesis.

  3. ORGANIZATIONAL DEVELOPMENT OPTIONS TOWARDS SUSTAINABILITY

    National Research Council Canada - National Science Library

    Patricia Ingrid, Keller

    2012-01-01

    .... So for the present study we researched the possible strategies, identifying those options to successfully integrate the dimensions of sustainability into organizational development from a systems...

  4. Incontinence Treatment: Newer Treatment Options

    Science.gov (United States)

    ... Bowel Incontinence Signs & Symptoms Symptoms of Incontinence Diarrhea Treatment Lifestyle Changes Dietary Tips Medication Bowel Management Biofeedback Surgical Treatments Newer Treatment Options Tips on Finding a Doctor ...

  5. Treatment Options for Narcolepsy.

    Science.gov (United States)

    Barateau, Lucie; Lopez, Régis; Dauvilliers, Yves

    2016-05-01

    Narcolepsy type 1 and narcolepsy type 2 are central disorders of hypersomnolence. Narcolepsy type 1 is characterized by excessive daytime sleepiness and cataplexy and is associated with hypocretin-1 deficiency. On the other hand, in narcolepsy type 2, cerebrospinal fluid hypocretin-1 levels are normal and cataplexy absent. Despite major advances in our understanding of narcolepsy mechanisms, its current management is only symptomatic. Treatment options may vary from a single drug that targets several symptoms, or multiple medications that each treats a specific symptom. In recent years, narcolepsy treatment has changed with the widespread use of modafinil/armodafinil for daytime sleepiness, antidepressants (selective serotonin and dual serotonin and noradrenalin reuptake inhibitors) for cataplexy, and sodium oxybate for both symptoms. Other psychostimulants can also be used, such as methylphenidate, pitolisant and rarely amphetamines, as third-line therapy. Importantly, clinically relevant subjective and objective measures of daytime sleepiness are required to monitor the treatment efficacy and to provide guidance on whether the treatment goals are met. Associated symptoms and comorbid conditions, such as hypnagogic/hypnopompic hallucinations, sleep paralysis, disturbed nighttime sleep, unpleasant dreams, REM- and non REM-related parasomnias, depressive symptoms, overweight/obesity, and obstructive sleep apnea, should also be taken into account and managed, if required. In the near future, the efficacy of new wake-promoting drugs, anticataplectic agents, hypocretin replacement therapy and immunotherapy at the early stages of the disease should also be evaluated.

  6. AFCI Options Study

    Energy Technology Data Exchange (ETDEWEB)

    R. Wigeland; T. Taiwo; M. Todosow; W. Halsey; J. Gehin

    2009-09-01

    This report describes the background and framework for both organizing the discussion and providing information on the potential for nuclear energy R&D to develop alternative nuclear fuel cycles that would address the issues with the current implementations of nuclear power, including nuclear waste disposal, proliferation risk, safety, security, economics, and sustainability. The disposition of used fuel is the cause of many of the concerns, and the possible approaches to used fuel management identify a number of basic technology areas that need to be considered. The basic science in each of the technology areas is discussed, emphasizing what science is currently available, where scientific knowledge may be insufficient, and especially to identify specific areas where transformational discoveries may allow achievement of performance goals not currently attainable. These discussions lead to the wide range of technical options that have been the basis for past and current research and development on advanced nuclear fuel cycles in the United States. The results of this work are then briefly reviewed to show the extent to which such approaches are capable of addressing the issues with nuclear power, the potential for moving further, and the inherent limitations.

  7. Pediatric Glaucoma: Pharmacotherapeutic Options.

    Science.gov (United States)

    Samant, Monica; Medsinge, Anagha; Nischal, Ken K

    2016-06-01

    Childhood glaucoma is a major therapeutic challenge for pediatric ophthalmologists and glaucoma specialists worldwide. Management depends on the etiology and age at presentation. A variety of drugs are available for the control of intraocular pressure in children; however, none of these drugs have been licensed by the regulatory agencies for use in children. Furthermore, evidence gained from randomized controlled trials in the pediatric population is sparse, and little is known regarding the use of newer anti-glaucoma preparations. This evidence-based review aims to discuss the available pharmacotherapeutic options for glaucoma in children. Topical adrenoceptor blockers, topical and systemic carbonic anhydrase inhibitors, prostaglandin (PG) analogs, adrenoceptor agonists, parasympathomimetics, and combined preparations are available for use in children, but usually as an off-label indication. Therefore, it is important to recognize that serious side effects have been reported, even with topical drops, and measures to reduce systemic absorption should be taken. Most drugs have been shown to have comparable ocular hypotensive effects, with the lowest occurrence of systemic side effects with PG analogs. Whereas a newly introduced prostaglandin analog, tafluprost, and some other preservative-free preparations have shown promising results in adult glaucoma patients, no pediatric reports are available as yet. Future studies may describe their role in treating pediatric glaucoma. This review also shares some suggested treatment pathways for primary congenital glaucoma (PCG), juvenile open angle glaucoma (JOAG), developmental glaucoma, aphakic/pseudophakic glaucoma, and uveitic glaucoma.

  8. 77 FR 74705 - Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing of Proposed...

    Science.gov (United States)

    2012-12-17

    ...-style options on Treasury notes and bonds with a unit of trading of $10,000. OCC therefore proposes to remove provisions and references within Chapter XIV of the Rules to American-style options on Treasury... rule change that are filed with the Commission, and all written communications relating to the...

  9. Expanding contraceptive options.

    Science.gov (United States)

    1989-01-01

    The goals of Family Health International (FHI) have been to introduce a variety of birth control options to people in developing countries, and to provide information to the user on the advantages and disadvantages of each method. FHI has worked with many developing countries in clinical trials of established as well as new contraceptive methods. These trials played an important part in making 2 sterilization procedures, laparoscopy and minilaparotomy popular for women. Further research improved the methods and have made them the most popular in the world, chosen by 130 million users. FHI is doing clinical trials on a new IUD, that is a copper bearing T-shaped device called the TCu380A. they have collected data on over 10,000 women using IUD's and early analysis indicates TCu380A is more effective than others. FHI is also evaluating devices such as Norplant that will prevent pregnancy up to 5 years by implanting the capsules in the arm. More than 8,000 women are being tested to determine the acceptability of implants in different geographical locations. Other research groups are doing work in 10 additional countries: Bangladesh will expand its program to 24,000 women and Nepal to 8,000 women. Trials are also being conducted on progestogen pills, since they do not lesson the volume of milk in breast feeding. FHI has also worked to introduce creative community-based distribution channels. In one case, specially trained health workers delivered contraceptives door-to-door in over 150,000 households. They found that 2 of 3 women accepted the pills and in a follow up survey 90% were still using them. FHI is now focusing on ways to improve moving new contraceptives from clinical testing on everyday use. They will coordinate training programs, educational material, media campaigns, and efforts with other international organizations, government agencies, and family planning groups.

  10. ESTIMATING THE PARAMETER DELTA IN THE BLACK MODEL USING THE FINITE DIFFERENCE METHOD FOR FUTURES OPTIONS

    Directory of Open Access Journals (Sweden)

    Lucia Švábová

    2015-09-01

    Full Text Available Financial derivatives are a widely used tool for investors to hedge against the risk caused by changes in asset prices in the financial markets. A usual type of hedging derivative is an asset option. In case of unexpected changes in asset prices, in the investment portfolio, the investor will exercise the option to eliminate losses resulting from these changes. Therefore, it is necessary to include the options in the investor´s portfolio in such a ratio that the losses caused by decreasing of assets prices will be covered by profits from those options. Futures option is a type of call or put option to buy or to sell an option contract at a designated strike price. The change in price of the underlying assets or underlying futures contract causes a change in the prices of options themselves. For investor exercising option as a tool for risk insurance, it is important to quantify these changes. The dependence of option price changes, on the underlying asset or futures option price changes, can be expressed by the parameter delta. The value of delta determines the composition of the portfolio to be risk-neutral. The parameter delta is calculated as a derivation of the option price with respect to the price of the underlying asset, if the option price formula exists. But for some types of more complex options, the analytical formula does not exist, so calculation of delta by derivation is not possible. However, it is possible to estimate the value of delta numerically using the principles of the numerical method called “Finite Difference Method.” In the paper the parameter delta for a Futures call option calculated from the analytical formula and estimated from the Finite difference method are compared.

  11. Bounds for Asian basket options

    Science.gov (United States)

    Deelstra, Griselda; Diallo, Ibrahima; Vanmaele, Michèle

    2008-09-01

    In this paper we propose pricing bounds for European-style discrete arithmetic Asian basket options in a Black and Scholes framework. We start from methods used for basket options and Asian options. First, we use the general approach for deriving upper and lower bounds for stop-loss premia of sums of non-independent random variables as in Kaas et al. [Upper and lower bounds for sums of random variables, Insurance Math. Econom. 27 (2000) 151-168] or Dhaene et al. [The concept of comonotonicity in actuarial science and finance: theory, Insurance Math. Econom. 31(1) (2002) 3-33]. We generalize the methods in Deelstra et al. [Pricing of arithmetic basket options by conditioning, Insurance Math. Econom. 34 (2004) 55-57] and Vanmaele et al. [Bounds for the price of discrete sampled arithmetic Asian options, J. Comput. Appl. Math. 185(1) (2006) 51-90]. Afterwards we show how to derive an analytical closed-form expression for a lower bound in the non-comonotonic case. Finally, we derive upper bounds for Asian basket options by applying techniques as in Thompson [Fast narrow bounds on the value of Asian options, Working Paper, University of Cambridge, 1999] and Lord [Partially exact and bounded approximations for arithmetic Asian options, J. Comput. Finance 10 (2) (2006) 1-52]. Numerical results are included and on the basis of our numerical tests, we explain which method we recommend depending on moneyness and time-to-maturity.

  12. American Samoa Energy Action Plan

    Energy Technology Data Exchange (ETDEWEB)

    Haase, Scott [National Renewable Energy Lab. (NREL), Golden, CO (United States); Esterly, Sean [National Renewable Energy Lab. (NREL), Golden, CO (United States); Herdrich, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bodell, Tim [National Renewable Energy Lab. (NREL), Golden, CO (United States); Visser, Charles [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2013-08-01

    Describes the five near-term strategies selected by the American Samoa Renewable Energy Committee (ASREC) during action planning workshops conducted in May 2013, and outlines the actions being taken to implement those strategies. Each option is tied to a priority identified in the earlier draft American Samoa Strategic Energy Plan as being an essential component of reducing American Samoa'spetroleum energy consumption. The actions described for each strategy provide a roadmap to facilitate the implementation of each strategy. This document is intended to evolve along with the advancement of the projects, and will be updated to reflect progress.

  13. "Libel Tourism" Puts British and American Defamation Standards in the Spotlight

    Science.gov (United States)

    Howard, Jennifer

    2008-01-01

    This article reports on the College Art Association's decision to settle with a scholar who felt defamed by an article in one of its scholarly journals which shines a spotlight on so-called "libel tourism." When the College Art Association decided recently to settle rather than fight a possible libel action in Britain over a book review…

  14. Americans Want to Be Fit, but Most Don't Put in The Effort

    Science.gov (United States)

    ... activity recommendations, said Heather Hausenblas, a professor of kinesiology at Jacksonville University in Florida. In fact, only ... a problem." SOURCES: Heather Hausenblas, Ph.D., professor, kinesiology, Jacksonville University, Jacksonville, Fla.; Pamela Peeke, M.D., ...

  15. Banks’ option to lend, interest rate sensitivity, and credit availability

    OpenAIRE

    2002-01-01

    Interest rate risk is a major concern for banks because of the nominal nature of their assets and the asset-liability maturity mismatch. This paper proposes a new way to derive a bank’s interest rate sensitivity, by examining separately the effects of interest rate changes on existing loans (loans-in-place) and potential loans (loans-in-process). A potential loan is shown to be equivalent to an American option to lend, and is valued using option theory. An increase in interest rates usually h...

  16. 17 CFR 210.12-12B - Open option contracts written.

    Science.gov (United States)

    2010-04-01

    ... EXCHANGE ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Form and Content of Schedules... of contracts 3 Exercise price Expiration date Value. 4 1 Information as to put options shall be shown...

  17. Making real options really work.

    Science.gov (United States)

    van Putten, Alexander B; MacMillan, Ian C

    2004-12-01

    As a way to value growth opportunities, real options have had a difficult time catching on with managers. Many CFOs believe the method ensures the overvaluation of risky projects. This concern is legitimate, but abandoning real options as a valuation model isn't the solution. Companies that rely solely on discounted cash flow (DCF) analysis underestimate the value of their projects and may fail to invest enough in uncertain but highly promising opportunities. CFOs need not--and should not--choose one approach over the other. Far from being a replacement for DCF analysis, real options are an essential complement, and a project's total value should encompass both. DCF captures a base estimate of value; real options take into account the potential for big gains. This is not to say that there aren't problems with real options. As currently applied, they focus almost exclusively on the risks associated with revenues, ignoring the risks associated with a project's costs. It's also true that option valuations almost always ignore assets that an initial investment in a subsequently abandoned project will often leave the company. In this article, the authors present a simple formula for combining DCF and option valuations that addresses these two problems. Using an integrated approach, managers will, in the long run, select better projects than their more timid competitors while keeping risk under control. Thus, they will outperform their rivals in both the product and the capital markets.

  18. Economic analysis of emerald ash borer (Coleoptera: Buprestidae) management options.

    Science.gov (United States)

    Vannatta, A R; Hauer, R H; Schuettpelz, N M

    2012-02-01

    Emerald ash borer, Agrilus planipennis (Fairmaire) (Coleoptera: Buprestidae), plays a significant role in the health and extent of management of native North American ash species in urban forests. An economic analysis of management options was performed to aid decision makers in preparing for likely future infestations. Separate ash tree population valuations were derived from the i-Tree Streets program and the Council of Tree and Landscape Appraisers (CTLA) methodology. A relative economic analysis was used to compare a control option (do-nothing approach, only removing ash trees as they die) to three distinct management options: 1) preemptive removal of all ash trees over a 5 yr period, 2) preemptive removal of all ash trees and replacement with comparable nonash trees, or 3) treating the entire population of ash trees with insecticides to minimize mortality. For each valuation and management option, an annual analysis was performed for both the remaining ash tree population and those lost to emerald ash borer. Retention of ash trees using insecticide treatments typically retained greater urban forest value, followed by doing nothing (control), which was better than preemptive removal and replacement. Preemptive removal without tree replacement, which was the least expensive management option, also provided the lowest net urban forest value over the 20-yr simulation. A "no emerald ash borer" scenario was modeled to further serve as a benchmark for each management option and provide a level of economic justification for regulatory programs aimed at slowing the movement of emerald ash borer.

  19. Monte Carlo methods for pricing financial options

    Indian Academy of Sciences (India)

    N Bolia; S Juneja

    2005-04-01

    Pricing financial options is amongst the most important and challenging problems in the modern financial industry. Except in the simplest cases, the prices of options do not have a simple closed form solution and efficient computational methods are needed to determine them. Monte Carlo methods have increasingly become a popular computational tool to price complex financial options, especially when the underlying space of assets has a large dimensionality, as the performance of other numerical methods typically suffer from the ‘curse of dimensionality’. However, even Monte-Carlo techniques can be quite slow as the problem-size increases, motivating research in variance reduction techniques to increase the efficiency of the simulations. In this paper, we review some of the popular variance reduction techniques and their application to pricing options. We particularly focus on the recent Monte-Carlo techniques proposed to tackle the difficult problem of pricing American options. These include: regression-based methods, random tree methods and stochastic mesh methods. Further, we show how importance sampling, a popular variance reduction technique, may be combined with these methods to enhance their effectiveness. We also briefly review the evolving options market in India.

  20. Essential Tremor (ET): Surgical Options

    Science.gov (United States)

    ... t respond to propranolol, primidone, or other common ET medications and whose tremor has become debilitating, there ... treatments were first introduced. Current surgical options for ET include Deep Brain Stimulation (DBS) , Focused Ultrasound Thalamotomy , ...

  1. Treatment Option Overview (Cervical Cancer)

    Science.gov (United States)

    ... Cancer Prevention Cervical Cancer Screening Research Cervical Cancer Treatment (PDQ®)–Patient Version General Information About Cervical Cancer ... Certain factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery) depends on ...

  2. Treatment Option Overview (Kaposi Sarcoma)

    Science.gov (United States)

    ... Treatment Childhood Vascular Tumors Treatment Research Kaposi Sarcoma Treatment (PDQ®)–Patient Version General Information About Kaposi Sarcoma ... Certain factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment ...

  3. Treatment Option Overview (Bladder Cancer)

    Science.gov (United States)

    ... Cancer Treatment Bladder Cancer Screening Research Bladder Cancer Treatment (PDQ®)–Patient Version General Information About Bladder Cancer ... Certain factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) depends on ...

  4. Treatment Options for Actinic Keratosis

    Science.gov (United States)

    ... Skin Cancer Skin Cancer Screening Research Skin Cancer Treatment (PDQ®)–Patient Version General Information About Skin Cancer ... Certain factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) depends mostly ...

  5. Treatment Options for Urethral Cancer

    Science.gov (United States)

    ... Treatment Health Professional Urethral Cancer Treatment Urethral Cancer Treatment (PDQ®)–Patient Version General Information About Urethral Cancer ... Certain factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment ...

  6. Menopause: Weighing Your Treatment Options

    Science.gov (United States)

    ... of this page please turn JavaScript on. Feature: Menopause Weighing Your Treatment Options Past Issues / Winter 2017 ... What led you to study older women and menopause? I started studying women's health many years ago ...

  7. Dove Stewed with American Ginseng

    Institute of Scientific and Technical Information of China (English)

    GUAN; MIN

    1999-01-01

    Ingredients:Three doves, 10g American ginseng, 5g salt, 10g cookingwine, 30g scallion and ginger, 3g MSG, 2g white pepperpowder, 5g sesame oil arid 700g broth.Method:1. Cook the doves in boiling water for a short while, softenthe American ginseng in lukewarm water, then cut it intopieces;, mince the scallion and ginger.2. Put the doves into a clay pot, add broth, sliced Americanginseng and flavorings. Bring to the boil, then reduce heatand stew gently until the doves are tender. Remove fromheat and place on a flat plate. Sprinkle the sesame oil andserve

  8. NEW METHOD TO OPTION PRICING FOR THE GENERAL BLACK-SCHOLES MODEL-AN ACTUARIAL APPROACH

    Institute of Scientific and Technical Information of China (English)

    闫海峰; 刘三阳

    2003-01-01

    Using physical probability measure of price process and the principle of fairpremium, the results of Mogers Bladt and Hina Hviid Rydberg are generalized. In twocases of paying intermediate divisends and no intermediate dividends, the Black-Scholesmodel is generalized to the case where the risk-less asset (bond or bank account) earns atime-dependent interest rate and risk asset (stock) has time-dependent the continuouslycompounding expected rate of return, volatility. In these cases the accurate pricing formulaand put- call parity of European option are obtained. The general approach of option pricingis given for the general Black-Scholes of the risk asset (stock) has the continuouslycompounding expected rate of return, volatility. The accurate pricing formula and put- callparity of European option on a stock whose price process is driven by general Ornstein-Uhlenback (O-U) process are given by actuarial approach.

  9. Binary Options as a Modern Fenomenon of Financial Business

    Directory of Open Access Journals (Sweden)

    Kolková Andrea

    2016-06-01

    Full Text Available Binary options are a new instrument of the financial market. The aim of this paper is to analyze the use of binary options with trading and to illustrate this on the practical example of trades based on Bollinger bands indicator. Currency pair EUR/USD and 6912 time series values of this instrument will be put to analysis. The contribution will be evaluated 8 strategies based on Bollinger Bands. There will be used a backtesting method. From the results follows the most trades could have been realized with the use of Bollinger bands with a double deviation. This strategy, however, also showed the greatest percentage of failed trades. On the contrary the fewest transactions could have been carried out with Bollinger bands with a triple deviation and the MACD filter.

  10. Option Derivatives in Electricity Hedging

    Directory of Open Access Journals (Sweden)

    P. Pavlátka

    2010-01-01

    Full Text Available Despite the high volatility of electricity prices, there is still little demand for electricity power options, and the liquidity on the power exchanges of these power derivatives is quite low. One of the reasons is the uncertainty about how to evaluate these electricity options and about finding the right fair value of this product. Hedging of electricity is associated mainly with products such as futures and forwards. However, due to new trends in electricity trading and hedging, it is also useful to think more about options and the principles for working with them in hedging various portfolio positions and counterparties. We can quite often encounter a situation when we need to have a perfect hedge for our customer’s (end user consuming electricity portfolio, or we have to evaluate the volumetric risk (inability of a customer to predict consumption, which is very similar to selling options. Now comes the moment to compare the effects of using options or futures to hedge these open positions. From a practical viewpoint, the Black-Scholes prices appear to be the best available and the simplest method for evaluating option premiums, but there are some limitations that we have to consider.

  11. American Summer and Autumn Festivals

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

    Just as we have autumn celebrations in China like the Mid-Autumn Festival and the National Day Golden Week holiday, America also has several autumn festivals. As the summer begins, Americans celebrate Memorial Day as a national holiday the last Monday of May to honor all of the country's war dead. As a child, my parents would drive to southern Indiana where my mother would put many bouquets of red, white,

  12. China's Largest Oil Storage Tanks Put into Service

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

    @@ Two 125,000-cubic-meter and 90-meter-diameter crude storage tanks, currently largest ones in China,have been constructed and put into service at Sinopec's Maoming Petrochemical Harbor Company in Southeast China's Guangdong Province in recent time.

  13. An on-line gasoline blending system put into production

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    @@ Anew system for online gasoline blending, which was developed by researchers from the CAS Institute of Automation (CASIA), has been put into production at China Petrochemical Corporation (SINOPEC) and PetroChina Corporation. It is expected to thoroughly renovate the technology in this regard and achieve maximal economic benefits in oil production stage.

  14. Putting Disability Studies to Work in Art Education

    Science.gov (United States)

    Penketh, Claire

    2014-01-01

    Putting disability studies to work in art education suggests a form of action or industry, a creative opportunity for something to be done, recognising the relationship between theory and practice. Drawing on discourse analysis, this article offers an initial theoretical discussion of some of the ways in which disability is revealed and created…

  15. Banshan Gas-Fired Turbine Generator Set Put into Operation

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

    @@ No.1 generator set of Banshan gas-fired power generation project, which is the first 9 FA heavy-duty gas turbine generator set in China that has drawn much attention, was successfully put into operation and merged into power grid at 21:30 in June 2, three months ahead of schedule.

  16. Recasting History: The Public Option

    Science.gov (United States)

    Salerno, Beth

    2014-01-01

    If you ask Americans what is studied in history classrooms, many will answer "facts and dates." If you ask them what people can do with a history degree, they answer "teach." Yet those same Americans acknowledge the power and practical relevance of history as they flock to national parks, historic sites, museums, and cultural…

  17. Mixing Monte-Carlo and Partial Differential Equations for Pricing Options

    Institute of Scientific and Technical Information of China (English)

    Tobias LIPP; Grégoire LOEPER; Olivier PIRONNEAU

    2013-01-01

    There is a need for very fast option pricers when the financial objects are modeled by complex systems of stochastic differential equations.Here the authors investigate option pricers based on mixed Monte-Carlo partial differential solvers for stochastic volatility models such as Heston's.It is found that orders of magnitude in speed are gained on full Monte-Carlo algorithms by solving all equations but one by a Monte-Carlo method,and pricing the underlying asset by a partial differential equation with random coefficients,derived by It(o) calculus.This strategy is investigated for vanilla options,barrier options and American options with stochastic volatilities and jumps optionally.

  18. Investment opportunities as real options

    Directory of Open Access Journals (Sweden)

    Adnan Rovčanin

    2005-06-01

    Full Text Available Opportunity (optional approach to capital investment appraisal represents, completely new theoretical and methodological framework for investment analysis. Compared to traditional, discount cash flow (DCF model of analysis, the optional approach provides opportunity for valuation and managing flexibility, i.e. possibility of approaching (amending the previous decisions in compliance with market changes. Risk and uncertainty are inevitably following the capital investment. Therefore, the importance of optional approach to investments is also that it provides possible better “treatment” of risks in the investment analysis, and also more rational allocation of resources, accordingly. This approach should be of more interest to the Countries in transition, considering the limited financial sources as well as risk and uncertainty are emphasized.

  19. Accounting treatment of currency options

    Directory of Open Access Journals (Sweden)

    Prošić Danica

    2016-01-01

    Full Text Available Currency options are often used to mitigate currency risk resulting from corporate activities. Their implementation can be complex, and there could be problems if the essential elements and principles are not fully understood. Although they are not the simplest financial products, currency options are interesting and useful to those who are trying to make a step forward in the area of currency risk management. This paper aims to present the general principles and specifics of accounting records and valuation of currency options used for hedging against risk. It is a complex process which, in addition to numerous conditions, also involves the implementation of accounting rules that deviate from the generally accepted accounting principles.

  20. Treatment options in trigeminal neuralgia

    Science.gov (United States)

    Obermann, Mark

    2010-01-01

    The incidence of trigeminal neuralgia (TN) is 4.3 per 100,000 persons per year, with a slightly higher incidence for women (5.9/100,000) compared with men (3.4/100,000). There is a lack of certainty regarding the aetiology and pathophysiology of TN. The treatment of TN can be very challenging despite the numerous options patients and physicians can choose from. This multitude of treatment options poses the question as to which treatment fits which patient best. The preferred medical treatment for TN consists of anticonvulsant drugs, muscle relaxants and neuroleptic agents. Large-scale placebo-controlled clinical trials are scarce. For patients refractory to medical therapy, Gasserian ganglion percutaneous techniques, gamma knife surgery and microvascular decompression are the most promising invasive treatment options. PMID:21179603

  1. Antibiotics: Misuse Puts You and Others at Risk

    Science.gov (United States)

    ... future. Frontiers in Microbiology. 2010;1:134. The history of antibiotics. American Academy of Pediatrics. http://www.healthychildren.org/English/health-issues/conditions/treatments/Pages/The-History-of- ...

  2. Putting the APA "Publication Manual" in Context. Commentary.

    Science.gov (United States)

    Russo, Nancy Felipe

    1999-01-01

    Explores feminist criticism of the "Publications Manual" of the American Psychological Association and the ways in which feminist researchers have negotiated changes in the language of this style guide. (SLD)

  3. Putting the APA "Publication Manual" in Context. Commentary.

    Science.gov (United States)

    Russo, Nancy Felipe

    1999-01-01

    Explores feminist criticism of the "Publications Manual" of the American Psychological Association and the ways in which feminist researchers have negotiated changes in the language of this style guide. (SLD)

  4. Domestic abuse in the Archers: putting the storyline into context

    OpenAIRE

    Brown, Jennifer

    2016-01-01

    The eked out tale of the abusive relationship between the Titcheners in the long running BBC Radio 4 soap, The Archers, culminated on Sunday evening with a knife attack by the long suffering Helen on her psychologically controlling husband Rob. Here, Jennifer Brown puts the storyline in context, offering a forensic psychology perspective and outlining the frequency of similar cases in the UK alongside the recent legal provisions to legislate against such behaviour.

  5. Design Evolution Study - Aging Options

    Energy Technology Data Exchange (ETDEWEB)

    P. McDaniel

    2002-04-05

    The purpose of this study is to identify options and issues for aging commercial spent nuclear fuel received for disposal at the Yucca Mountain Mined Geologic Repository. Some early shipments of commercial spent nuclear fuel to the repository may be received with high-heat-output (younger) fuel assemblies that will need to be managed to meet thermal goals for emplacement. The capability to age as much as 40,000 metric tons of heavy metal of commercial spent nuclear he1 would provide more flexibility in the design to manage this younger fuel and to decouple waste receipt and waste emplacement. The following potential aging location options are evaluated: (1) Surface aging at four locations near the North Portal; (2) Subsurface aging in the permanent emplacement drifts; and (3) Subsurface aging in a new subsurface area. The following aging container options are evaluated: (1) Complete Waste Package; (2) Stainless Steel inner liner of the waste package; (3) Dual Purpose Canisters; (4) Multi-Purpose Canisters; and (5) New disposable canister for uncanistered commercial spent nuclear fuel. Each option is compared to a ''Base Case,'' which is the expected normal waste packaging process without aging. A Value Engineering approach is used to score each option against nine technical criteria and rank the options. Open issues with each of the options and suggested future actions are also presented. Costs for aging containers and aging locations are evaluated separately. Capital costs are developed for direct costs and distributable field costs. To the extent practical, unit costs are presented. Indirect costs, operating costs, and total system life cycle costs will be evaluated outside of this study. Three recommendations for aging commercial spent nuclear fuel--subsurface, surface, and combined surface and subsurface are presented for further review in the overall design re-evaluation effort. Options that were evaluated but not recommended are

  6. Victimization and Substance Use among Native American College Students

    Science.gov (United States)

    Fish, Jillian; Livingston, Jennifer A.; VanZile-Tamsen, Carol; Patterson Silver Wolf, David A.

    2017-01-01

    According to Tribal Critical Race Theory, Native American students have low retention rates due to the structural barriers and racism inherent in colleges and universities. Similarly, structural barriers and racism could put Native American students at risk for victimization and substance use, thus influencing their academic success. The purposes…

  7. Feedback options in nonlinear numerical finance

    DEFF Research Database (Denmark)

    Hugger, Jens; Mashayekhi, Sima

    2012-01-01

    Feedback options are options where information about the trading of the underlying asset is fed back into the pricing model. This results in nonlinear pricing models. A survey of the literature about feedback options in finance is presented. The pricing model for the full feedback option...

  8. Illiquidity Premia in the Equity Options Market

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Goyenko, Ruslan; Jacobs, Kris

    Illiquidity is well-known to be a significant determinant of stock and bond returns. We report on illiquidity premia in the equity options market. An increase in option illiquidity decreases the current option price and implies higher expected option returns. This effect is statistically and econ...

  9. 76 FR 31851 - Safety Zone; Put-in-Bay Fireworks, Fox's the Dock Pier; South Bass Island, Put-in-Bay, OH

    Science.gov (United States)

    2011-06-02

    ... SECURITY Coast Guard 33 CFR Part 165 RIN 1625-AA00 Safety Zone; Put-in-Bay Fireworks, Fox's the Dock Pier; South Bass Island, Put-in-Bay, OH AGENCY: Coast Guard, DHS. ACTION: Temporary final rule. SUMMARY: The..., Put-in-Bay, Ohio. This Zone is intended to restrict vessels from portions of Lake Erie for the...

  10. Exploring Higher Education Financing Options

    Science.gov (United States)

    Nkrumah-Young, Kofi K.; Powell, Philip

    2011-01-01

    Higher education can be financed privately, financed by governments, or shared. Given that the benefits of education accrue to the individual and the state, many governments opt for shared financing. This article examines the underpinnings of different options for financing higher education and develops a model to compare conditions to choices and…

  11. Treatment Option Overview (Gastric Cancer)

    Science.gov (United States)

    ... liver cancer . The following stages are used for gastric cancer: Stage 0 (Carcinoma in Situ) In stage 0 , abnormal cells are ... check-ups. Treatment Options by Stage Stage 0 (Carcinoma in ... Stage I Gastric Cancer Treatment of stage I gastric cancer may ...

  12. 27 CFR 6.152 - Practices which put retailer independence at risk.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Practices which put... which put retailer independence at risk. The practices specified in this section put retailer... practices that put retailer independence at risk. (a) The act by an industry member of resetting stock on...

  13. Re-establishing What Went Wrong Before: The Greenspan Put as Macroeconomic Modellers’ New Normal

    Directory of Open Access Journals (Sweden)

    Matthew Watson

    2014-06-01

    Full Text Available Almost a decade after his retirement Alan Greenspan remains the world’s most immediately recognisable and highest profile central banker. This article reviews Greenspan’s ostensible move away from efficient markets theorising as he has tried to come to terms with the patterns of ‘euphoria’ and ‘fear’ he believes explain the build-up to the global financial crisis. In truth, though, it looks much more like an attempt to rescue the reputation of his free market models in the face of an increasing number of sceptics. Greenspan’s new memoire fails to acknowledge what, in effect, was the free put option the Federal Reserve provided to Wall Street traders under his leadership. Indeed, it goes as far as to promote a visualisation technique for how macroeconomic modellers should view the basic structure of the market environment which treats the now increasingly infamous ‘Greenspan put’ as an ostensibly formal component of asset prices. The style of policymaking that helped to stoke such extreme asset price inflation prior to the crisis is now embedded:(i within the class of models that Greenspan has presented as the post-crisis antidote to efficient markets theorising; and (ii within the recent historical data being used in the calibration tests of the models’ efficacy. What macroeconomic modellers can see in the market environment when embracing the supposedly new reality of euphoria and fear is a manifestation of what the prior existence of the Greenspan put first brought into view

  14. Equity Portfolio Management Using Option Price Information

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Pan, Xuhui (Nick)

    We survey the recent academic literature that uses option-implied information to construct equity portfolios. Studies show that equity managers can earn a positive alpha by using information in individual equity options, by using stocks' exposure to information in market index options, and by using...... stocks' exposure to crude oil option information. Option-implied information can also help construct better mean-variance portfolios and better estimates of market beta....

  15. Equity Portfolio Management Using Option Price Information

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Pan, Xuhui (Nick)

    We survey the recent academic literature that uses option-implied information to construct equity portfolios. Studies show that equity managers can earn a positive alpha by using information in individual equity options, by using stocks' exposure to information in market index options, and by using...... stocks' exposure to crude oil option information. Option-implied information can also help construct better mean-variance portfolios and better estimates of market beta....

  16. Pawnee Nation Energy Option Analyses

    Energy Technology Data Exchange (ETDEWEB)

    Matlock, M.; Kersey, K.; Riding In, C.

    2009-07-31

    In 2003, the Pawnee Nation leadership identified the need for the tribe to comprehensively address its energy issues. During a strategic energy planning workshop a general framework was laid out and the Pawnee Nation Energy Task Force was created to work toward further development of the tribe’s energy vision. The overarching goals of the “first steps” project were to identify the most appropriate focus for its strategic energy initiatives going forward, and to provide information necessary to take the next steps in pursuit of the “best fit” energy options. Based on the request of Pawnee Nation’s Energy Task Force the research team, consisting Tribal personnel and Summit Blue Consulting, focused on a review of renewable energy resource development potential, funding sources and utility organizational along with energy savings options. Elements of the energy demand forecasting and characterization and demand side options review remained in the scope of work, but were only addressed at a high level. Description of Activities Performed Renewable Energy Resource Development Potential The research team reviewed existing data pertaining to the availability of biomass (focusing on woody biomass, agricultural biomass/bio-energy crops, and methane capture), solar, wind and hydropower resources on the Pawnee-owned lands. Using these data, combined with assumptions about costs and revenue streams, the research team performed preliminary feasibility assessments for each resource category. The research team also reviewed available funding resources and made recommendations to Pawnee Nation highlighting those resources with the greatest potential for financially-viable development, both in the near-term and over a longer time horizon. Energy Efficiency Options While this was not a major focus of the project, the research team highlighted common strategies for reducing energy use in buildings. The team also discussed the benefits of adopting a building energy code and

  17. Putting Information First Luciano Floridi and the Philosophy of Information

    CERN Document Server

    Allo, Patrick

    2011-01-01

    Putting Information First focuses on Luciano Floridi's contributions to the philosophy of information. Respected scholars stimulate the debate on the most distinctive and controversial views he defended, and present the philosophy of information as a specific way of doing philosophy.Contains eight essays by leading scholars, a reply by Luciano Floridi, and an epilogue by Terrell W. BynumExplains the importance of philosophy of information as a specific way of doing philosophyFocuses directly on the work of Luciano Floridi in the area of philosophy of information, but also connects to contempor

  18. Can operations put the MPS into an unsafe state?

    CERN Document Server

    Ponce, L

    2011-01-01

    During the 2010 run, the MPS have been additionally stressed by the commissioning of operational procedures and systems tests. As requested by the MPS external review committee, human factors have to be further minimized and discipline reinforced when increasing the stored beam energies towards and beyond the 2010 target of 30 MJ. This talk will present a synthesis of the Evian discussion on MPS and human factors, with an emphasis on the tools and procedures to be put in place for the 2011 run in order to ensure the machine safety during standard beam operation and after periods of machine developments or technical stops.

  19. Fertility preservation in children and adolescents: current options and considerations.

    Science.gov (United States)

    McCracken, Kate; Nahata, Leena

    2017-10-01

    The purpose of this review is to outline current pediatric fertility preservation options, and discuss ethical and financial considerations impacting this rapidly expanding field. With the improvement in treatment of pediatric malignancies and medical conditions that threaten fertility, survival rates are increasing. Therefore, minimizing long-term morbidities such as gonadal damage and infertility is of utmost importance. Impaired fertility not only has a significant negative impact on patient's quality of life; in women, gonadal damage puts patients at risk for premature menopause, and increased risk of cardiac, skeletal, and cognitive issues. Fortunately, fertility preservation options exist for both female and male prepubertal and pubertal patients, and discussion of such options with patients and their families prior to the initiation of therapy and/or before further deterioration of gonadal function is crucial. A multidisciplinary approach to fertility counseling, with attention to the patient's goals and cultural beliefs, is ideal. Although several national organizations support integrating a fertility consultation into routine care, fertility preservation is still underutilized. Continued research is needed to understand barriers for patients/families and reduce the number of missed opportunities for fertility preservation.

  20. Dynamics Model Applied to Pricing Options with Uncertain Volatility

    Directory of Open Access Journals (Sweden)

    Lorella Fatone

    2012-01-01

    model is proposed. The data used to test the calibration problem included observations of asset prices over a finite set of (known equispaced discrete time values. Statistical tests were used to estimate the statistical significance of the two parameters of the Black-Scholes model: the volatility and the drift. The effects of these estimates on the option pricing problem were investigated. In particular, the pricing of an option with uncertain volatility in the Black-Scholes framework was revisited, and a statistical significance was associated with the price intervals determined using the Black-Scholes-Barenblatt equations. Numerical experiments involving synthetic and real data were presented. The real data considered were the daily closing values of the S&P500 index and the associated European call and put option prices in the year 2005. The method proposed here for calibrating the Black-Scholes dynamics model could be extended to other science and engineering models that may be expressed in terms of stochastic dynamical systems.

  1. Depleted uranium disposal options evaluation

    Energy Technology Data Exchange (ETDEWEB)

    Hertzler, T.J.; Nishimoto, D.D.; Otis, M.D. [Science Applications International Corp., Idaho Falls, ID (United States). Waste Management Technology Div.

    1994-05-01

    The Department of Energy (DOE), Office of Environmental Restoration and Waste Management, has chartered a study to evaluate alternative management strategies for depleted uranium (DU) currently stored throughout the DOE complex. Historically, DU has been maintained as a strategic resource because of uses for DU metal and potential uses for further enrichment or for uranium oxide as breeder reactor blanket fuel. This study has focused on evaluating the disposal options for DU if it were considered a waste. This report is in no way declaring these DU reserves a ``waste,`` but is intended to provide baseline data for comparison with other management options for use of DU. To PICS considered in this report include: Retrievable disposal; permanent disposal; health hazards; radiation toxicity and chemical toxicity.

  2. Managing Nuclear Waste: Options Considered

    Energy Technology Data Exchange (ETDEWEB)

    DOE

    2002-05-02

    Starting in the 1950s, U.S. scientists began to research ways to manage highly radioactive materials accumulating at power plants and other sites nationwide. Long-term surface storage of these materials poses significant potential health, safety, and environmental risks. Scientists studied a broad range of options for managing spent nuclear fuel and high-level radioactive waste. The options included leaving it where it is, disposing of it in various ways, and making it safer through advanced technologies. International scientific consensus holds that these materials should eventually be disposed of deep underground in what is called a geologic repository. In a recent special report, the National Academy of Sciences summarized the various studies and emphasized that geologic disposal is ultimately necessary.

  3. Treatment options for hyperemesis gravidarum.

    Science.gov (United States)

    Abramowitz, Amy; Miller, Emily S; Wisner, Katherine L

    2017-01-09

    Hyperemesis gravidarum (HG) is a severe and prolonged form of nausea and/or vomiting during pregnancy. HG affects 0.3-2% of pregnancies and is defined by dehydration, ketonuria, and more than 5% body weight loss. Initial pharmacologic treatment for HG includes a combination of doxylamine and pyridoxine. Additional interventions include ondansetron or dopamine antagonists such as metoclopramide or promethazine. The options are limited for women who are not adequately treated with these medications. We suggest that mirtazapine is a useful drug in this context and its efficacy has been described in case studies. Mirtazapine acts on noradrenergic, serotonergic, histaminergic, and muscarinic receptors to produce antidepressant, anxiolytic, antiemetic, sedative, and appetite-stimulating effects. Mirtazapine is not associated with an independent increased risk of birth defects. Further investigation of mirtazapine as a treatment for HG holds promise to expand treatment options for women suffering from HG.

  4. Transfer of mechanical energy during the shot put.

    Science.gov (United States)

    Błażkiewicz, Michalina; Łysoń, Barbara; Chmielewski, Adam; Wit, Andrzej

    2016-09-01

    The aim of this study was to analyse transfer of mechanical energy between body segments during the glide shot put. A group of eight elite throwers from the Polish National Team was analysed in the study. Motion analysis of each throw was recorded using an optoelectronic Vicon system composed of nine infrared camcorders and Kistler force plates. The power and energy were computed for the phase of final acceleration of the glide shot put. The data were normalized with respect to time using the algorithm of the fifth order spline and their values were interpolated with respect to the percentage of total time, assuming that the time of the final weight acceleration movement was different for each putter. Statistically significant transfer was found in the study group between the following segments: Right Knee - Right Hip (p = 0.0035), Left Hip - Torso (p = 0.0201), Torso - Right Shoulder (p = 0.0122) and Right Elbow - Right Wrist (p = 0.0001). Furthermore, the results of cluster analysis showed that the kinetic chain used during the final shot acceleration movement had two different models. Differences between the groups were revealed mainly in the energy generated by the hips and trunk.

  5. Conventional flow curves of liquid cast iron put on spheroidization

    Directory of Open Access Journals (Sweden)

    B. Borowiecki

    2008-04-01

    Full Text Available The purpose of the investigation was to confirm the hypothesis that the conventional flow curves of liquid cast iron put on sferoidization determined from the rod fluidity test are comparable to flow curves of liquids in environmental temperature. Moreover has been identified, that conventional flow curves for this liquid cast iron are similar to generalized non- Newtonian liquids curves.For rods with the diameters 3-8 mm there are three various curves:1 – the flow curve of liquid cast iron put on spheroidization overheated about 80 K resemble a shape adequately to a curve of densified liquid with shearing. This phenomenon can be caused by high overcooled and creation of crystallization nuclei;2 – metal alloys overheated about 180 K resemble a shape adequately to Newtonian liquid;3 – metal alloys overheated about 210 K resemble a shape of curve adequately to dispersed liquid with shearing. This phenomenon probably depends on influence of gas which creates on boundary of metal-sand mould.

  6. Putting matters on the triangle-hinge models

    CERN Document Server

    Fukuma, Masafumi; Umeda, Naoya

    2015-01-01

    In a recent paper [arXiv:1503.08812] a new class of models generating three-dimensional random volumes are introduced, where the Boltzmann weight of each configuration is given by the product of values assigned to the triangles and the hinges. These triangle-hinge models are characterized by semisimple associative algebras, and the set of possible diagrams can be reduced such that only and all of the three-dimensional manifolds with tetrahedral decompositions are generated. In this letter, we give a general prescription to put matters on the models. We show that the degrees of freedom representing matter fields can be assigned to simplices of any dimensions (tetrahedra, triangles, edges and vertices) in such a way that they have local interactions. Simple examples include the Ising model, the q-state Potts models and the RSOS models coupled to three-dimensional quantum gravity. We also show that the three-dimensional colored tensor models can be obtained by putting specific matters on both tetrahedra and tria...

  7. Transfer of mechanical energy during the shot put

    Directory of Open Access Journals (Sweden)

    Błażkiewicz Michalina

    2016-09-01

    Full Text Available The aim of this study was to analyse transfer of mechanical energy between body segments during the glide shot put. A group of eight elite throwers from the Polish National Team was analysed in the study. Motion analysis of each throw was recorded using an optoelectronic Vicon system composed of nine infrared camcorders and Kistler force plates. The power and energy were computed for the phase of final acceleration of the glide shot put. The data were normalized with respect to time using the algorithm of the fifth order spline and their values were interpolated with respect to the percentage of total time, assuming that the time of the final weight acceleration movement was different for each putter. Statistically significant transfer was found in the study group between the following segments: Right Knee – Right Hip (p = 0.0035, Left Hip - Torso (p = 0.0201, Torso – Right Shoulder (p = 0.0122 and Right Elbow – Right Wrist (p = 0.0001. Furthermore, the results of cluster analysis showed that the kinetic chain used during the final shot acceleration movement had two different models. Differences between the groups were revealed mainly in the energy generated by the hips and trunk.

  8. Option Pricing using Realized Volatility

    DEFF Research Database (Denmark)

    Stentoft, Lars Peter

    In the present paper we suggest to model Realized Volatility, an estimate of daily volatility based on high frequency data, as an Inverse Gaussian distributed variable with time varying mean, and we examine the joint properties of Realized Volatility and asset returns. We derive the appropriate...... benchmark model estimated on return data alone. Hence the paper provides evidence on the value of using high frequency data for option pricing purposes....

  9. Option Pricing using Realized Volatility

    DEFF Research Database (Denmark)

    Stentoft, Lars Peter

    In the present paper we suggest to model Realized Volatility, an estimate of daily volatility based on high frequency data, as an Inverse Gaussian distributed variable with time varying mean, and we examine the joint properties of Realized Volatility and asset returns. We derive the appropriate d...... benchmark model estimated on return data alone. Hence the paper provides evidence on the value of using high frequency data for option pricing purposes....

  10. The Factor Structure in Equity Options

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Fournier, Mathieu; Jacobs, Kris

    Principal component analysis of equity options on Dow-Jones firms reveals a strong factor structure. The first principal component explains 77% of the variation in the equity volatility level, 77% of the variation in the equity option skew, and 60% of the implied volatility term structure across...... equities. Furthermore, the first principal component has a 92% correlation with S&P500 index option volatility, a 64% correlation with the index option skew, and a 80% correlation with the index option term structure. We develop an equity option valuation model that captures this factor structure...

  11. Path integral approach to the pricing of timer options with the Duru-Kleinert time transformation.

    Science.gov (United States)

    Liang, L Z J; Lemmens, D; Tempere, J

    2011-05-01

    In this paper, a time substitution as used by Duru and Kleinert in their treatment of the hydrogen atom with path integrals is performed to price timer options under stochastic volatility models. We present general pricing formulas for both the perpetual timer call options and the finite time-horizon timer call options. These general results allow us to find closed-form pricing formulas for both the perpetual and the finite time-horizon timer options under the 3/2 stochastic volatility model as well as under the Heston stochastic volatility model. For the treatment of timer options under the 3/2 model we will rely on the path integral for the Morse potential, with the Heston model we will rely on the Kratzer potential. © 2011 American Physical Society

  12. Putting judging situations into situational judgment tests: evidence from intercultural multimedia SJTs.

    Science.gov (United States)

    Rockstuhl, Thomas; Ang, Soon; Ng, Kok-Yee; Lievens, Filip; Van Dyne, Linn

    2015-03-01

    Although the term situational judgment test (SJT) implies judging situations, existing SJTs focus more on judging the effectiveness of different response options (i.e., response judgment) and less on how people perceive and interpret situations (i.e., situational judgment). We expand the traditional SJT paradigm and propose that adding explicit assessments of situational judgment to SJTs will provide incremental information beyond that provided by response judgment. We test this hypothesis across 4 studies using intercultural multimedia SJTs. Study 1 uses verbal protocol analysis to discover the situational judgments people make when responding to SJT items. Study 2 shows situational judgment predicts time-lagged, peer-rated task performance and interpersonal citizenship among undergraduate seniors over and above response judgment and other established predictors. Study 3 shows providing situational judgment did not affect the predictive validity of response judgment. Study 4 replicates Study 2 in a working adult sample. We discuss implications for SJT theory as well as the practical implications of putting judging situations back into SJTs.

  13. American ginseng

    Science.gov (United States)

    ... and inflammation of the lining of the stomach (gastritis). American ginseng is also used for low iron ... Anemia. Bleeding disorders. Digestive disorders. Dizziness. Fever. Fibromyalgia. Gastritis. Hangover symptoms. Headaches. HIV/AIDS. Impotence. Insomnia. Memory ...

  14. The Growth of China and India: Implications and Policy Reform Options for Malaysia

    OpenAIRE

    Ianchovichina, Elena; Ivanic, Maros; Martin, Will

    2010-01-01

    This study explores the trade-related impacts of rapid growth of China and India on the Malaysian economy and evaluates policy options to better position Malaysia to take advantage of these changes. Higher growth in China and India is likely to raise Malaysia's national income and to expand Malaysia's natural resource and agricultural exports, while putting downward pressure on exports from some manufacturing and service sectors. Increases in the quality and variety of exports from China and ...

  15. Strategic Options for Vietnamese Tea Processors in the Global Value Chain

    DEFF Research Database (Denmark)

    Sørensen, Olav Jull; Luong Thi Ngoc, Oanh; Nguyen Thi Hai, Yen

    2009-01-01

    The aim of the chapter is to study the position of Vietnamese tea producers, processors and traders in the Global Value CHain for tea and analyse the strategic options at various levels of the chain. The dominant governance at the Vietnamese level is found to be the market and this puts constraints...... on the possibilities for upgrading and for identifying a local driver of the chain. A few transnational companies dominate the global value chain for tea....

  16. Strategic Options for Vietnamese Tea Processors in the Global Value Chain

    DEFF Research Database (Denmark)

    Sørensen, Olav Jull; Luong Thi Ngoc, Oanh; Nguyen Thi Hai, Yen

    2009-01-01

    The aim of the chapter is to study the position of Vietnamese tea producers, processors and traders in the Global Value CHain for tea and analyse the strategic options at various levels of the chain. The dominant governance at the Vietnamese level is found to be the market and this puts constrain...... on the possibilities for upgrading and for identifying a local driver of the chain. A few transnational companies dominate the global value chain for tea....

  17. Medical Education and Curriculum Reform: Putting Reform Proposals in Context

    Directory of Open Access Journals (Sweden)

    Daniel Kam Yin Chan, MD, MB.BS, MHA

    2004-01-01

    Full Text Available The purpose of this paper is to elaborate criteria by which the principles of curriculum reform can be judged. To this end, the paper presents an overview of standard critiques of medical education and examines the ways medical curriculum reforms have responded to these critiques. The paper then sets out our assessment of these curriculum reforms along three parameters: pedagogy, educational context, and knowledge status. Following on from this evaluation of recent curriculum reforms, the paper puts forward four criteria with which to gauge the adequacy medical curriculum reform. These criteria enable us to question the extent to which new curricula incorporate methods and approaches for ensuring that its substance: overcomes the traditional opposition between clinical and resource dimensions of care; emphasizes that the clinical work needs to be systematized in so far as that it feasible; promotes multi-disciplinary team work, and balances clinical autonomy with accountability to non-clinical stakeholders.

  18. Putting the child at the center of inter

    DEFF Research Database (Denmark)

    Schwartz, Ida

    2016-01-01

    coordinate their children's everyday lives, but in the case of children in out-of-home care, the responsibility of care is distributed between several professionals and institutions. Research often recommends that inter-professional cooperation should put the child at the centre and be more child focused....... But what does that mean? The paper investigates theoretical understandings of ‘child centredness’ in inter-professional cooperation. It also includes an empirical example taken from a research project that followed four children in their everyday lives in two residential homes in Denmark. The research...... explored how professionals work together across contexts in order to support children to take part in school and leisure-time activities. The overall reasoning leads to the point that for children in out-of-home care, the possibility of exercising personal agency in their everyday life constitutes...

  19. Pediatric Malnutrition: Putting the New Definition and Standards Into Practice.

    Science.gov (United States)

    Beer, Stacey S; Juarez, Marisa D; Vega, Molly W; Canada, Nicki L

    2015-10-01

    In recent years, much effort has been directed at redefining malnutrition in the pediatric population to include the acute clinical population in addition to the more traditional ambulatory populations. In 2013, an expert panel convened to perform a critical review of available literature to craft a new approach to malnutrition. Closely thereafter, the Academy of Nutrition and Dietetics and the American Society for Parenteral and Enteral Nutrition published recommended indicators for the identification and documentation of malnutrition in pediatric populations. The purpose of this article is to review the domains within the new definition of malnutrition in pediatric practice, describe populations in which the recommended indicators for identification and management are problematic in clinical practice, give case studies that apply the new definition, and finally describe the implementation of a malnutrition identification program within a large tertiary care children's hospital. © 2015 American Society for Parenteral and Enteral Nutrition.

  20. Climate-smart conservation: putting adaption principles into practice

    Science.gov (United States)

    Stein, Bruce A.; Glick, Patty; Edelson, Naomi; Staudt, Amanda

    2014-01-01

    Climate change already is having significant impacts on the nation’s species and ecosystems, and these effects are projected to increase considerably over time. As a result, climate change is now a primary lens through which conservation and natural resource management must be viewed. How should we prepare for and respond to the impacts of climate change on wildlife and their habitats? What should we be doing differently in light of these climatic shifts, and what actions continue to make sense? Climate-Smart Conservation: Putting Adaptation Principles into Practice offers guidance for designing and carrying out conservation in the face of a rapidly changing climate. Addressing the growing threats brought about or accentuated by rapid climate change requires a fundamental shift in the practice of natural resource management and conservation. Traditionally, conservationists have focused their efforts on protecting and managing systems to maintain their current state, or to restore degraded systems back to a historical state regarded as more desirable. Conservation planners and practitioners will need to adopt forward-looking goals and implement strategies specifically designed to prepare for and adjust to current and future climatic changes, and the associated impacts on natural systems and human communities—an emerging discipline known as climate change adaptation. The field of climate change adaptation is still in its infancy. Although there is increasing attention focused on the subject, much of the guidance developed to date has been general in nature, concentrating on high-level principles rather than specific actions. It is against this backdrop that this guide was prepared as a means for helping put adaptation principles into practice, and for moving adaptation from planning to action.

  1. Retirement Options to Offer College Faculty.

    Science.gov (United States)

    Felicetti, Daniel A.

    1982-01-01

    Retirement options available to institutions are outlined, including early retirement incentives, phased retirement, facilitating consulting opportunities, travel and outplacement services, maintaining community involvement, annuities, and pensions. Suggestions are made for increasing cost-effectiveness and fitting the options to local…

  2. 78 FR 17868 - Noncompensatory Partnership Options; Correction

    Science.gov (United States)

    2013-03-25

    ... example, assume that PRS is a partnership for Federal tax purposes, none of the noncompensatory option... premium of $10x, PRS issues a noncompensatory option to A to acquire a 10 percent interest in PRS...

  3. Retirement Options to Offer College Faculty.

    Science.gov (United States)

    Felicetti, Daniel A.

    1982-01-01

    Retirement options available to institutions are outlined, including early retirement incentives, phased retirement, facilitating consulting opportunities, travel and outplacement services, maintaining community involvement, annuities, and pensions. Suggestions are made for increasing cost-effectiveness and fitting the options to local…

  4. Pawnee Nation Energy Option Analyses

    Energy Technology Data Exchange (ETDEWEB)

    Matlock, M.; Kersey, K.; Riding In, C.

    2009-07-21

    Pawnee Nation of Oklahoma Energy Option Analyses In 2003, the Pawnee Nation leadership identified the need for the tribe to comprehensively address its energy issues. During a strategic energy planning workshop a general framework was laid out and the Pawnee Nation Energy Task Force was created to work toward further development of the tribe’s energy vision. The overarching goals of the “first steps” project were to identify the most appropriate focus for its strategic energy initiatives going forward, and to provide information necessary to take the next steps in pursuit of the “best fit” energy options. Description of Activities Performed The research team reviewed existing data pertaining to the availability of biomass (focusing on woody biomass, agricultural biomass/bio-energy crops, and methane capture), solar, wind and hydropower resources on the Pawnee-owned lands. Using these data, combined with assumptions about costs and revenue streams, the research team performed preliminary feasibility assessments for each resource category. The research team also reviewed available funding resources and made recommendations to Pawnee Nation highlighting those resources with the greatest potential for financially-viable development, both in the near-term and over a longer time horizon. Findings and Recommendations Due to a lack of financial incentives for renewable energy, particularly at the state level, combined mediocre renewable energy resources, renewable energy development opportunities are limited for Pawnee Nation. However, near-term potential exists for development of solar hot water at the gym, and an exterior wood-fired boiler system at the tribe’s main administrative building. Pawnee Nation should also explore options for developing LFGTE resources in collaboration with the City of Pawnee. Significant potential may also exist for development of bio-energy resources within the next decade. Pawnee Nation representatives should closely monitor

  5. Option trading and individual investor performance

    NARCIS (Netherlands)

    R. Bauer; M. Cosemans; P. Eichholtz

    2009-01-01

    This paper examines the impact of option trading on individual investor performance. The results show that most investors incur substantial losses on their option investments, which are much larger than the losses from equity trading. We attribute the detrimental impact of option trading on investor

  6. Option Strike Price and Managerial Investment Decisions

    Institute of Scientific and Technical Information of China (English)

    刘鸿雁; 张维

    2003-01-01

    The manager′s investment decisions is modeled when the manager is risk-averse and has stock options as compensation. It is found that the strike price of options is crucial to the investment incentives of managers, and that the correct value, or interval of values, of managerial stock option strike price can bring stockholder and manager interests in agreement.

  7. Option trading and individual investor performance

    NARCIS (Netherlands)

    Bauer, R.; Cosemans, M.; Eichholtz, P.

    2009-01-01

    This paper examines the impact of option trading on individual investor performance. The results show that most investors incur substantial losses on their option investments, which are much larger than the losses from equity trading. We attribute the detrimental impact of option trading on investor

  8. Option Fixation: A Cognitive Contributor to Overconfidence

    Science.gov (United States)

    Sieck, Winston R.; Merkle, Edgar C.; Van Zandt, Trisha

    2007-01-01

    The ASC model of choice and confidence in general knowledge proposes that respondents first Assess the familiarity of presented options, and then use the high-familiarity option as a retrieval cue to Search memory for the purposes of Constructing an explanation about why that high-familiarity option is true. The ASC process implies that…

  9. 24 CFR 221.775 - Option period.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Option period. 221.775 Section 221.775 Housing and Urban Development Regulations Relating to Housing and Urban Development (Continued... § 221.775 Option period. The mortgagee may exercise its option to assign within one year following the...

  10. Equity Portfolio Management Using Option Price Information

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Pan, Xuhui (Nick)

    We survey the recent academic literature that uses option-implied information to construct equity portfolios. Studies show that equity managers can earn a positive alpha by using information in individual equity options, by using stocks' exposure to information in market index options, and by usi...

  11. Margin Requirements and Equity Option Returns

    DEFF Research Database (Denmark)

    Hitzemann, Steffen; Hofmann, Michael; Uhrig-Homburg, Marliese

    In equity option markets, traders face margin requirements both for the options themselves and for hedging-related positions in the underlying stock market. We show that these requirements carry a significant margin premium in the cross-section of equity option returns. The sign of the margin pre...

  12. Taxation and the American Revolution

    Directory of Open Access Journals (Sweden)

    John Passant

    2017-09-01

    Full Text Available This article looks at the interrelationship between revolution and tax in the context of the American Revolution. It examines the role of ordinary people in demanding, among other things, as part of wider demands for democracy and equality, no taxation without representation. The article aims to reintroduce the neglected notions of class and class struggle into current discussions and debates about tax and history, putting the people back into academic narratives about the history of taxation and to their place as political actors on history’s stage.

  13. Risks vs Return with Binary Option Trading

    OpenAIRE

    Kiiskinen, Eemi

    2016-01-01

    Binary options are derivative instruments associated with high risks and high profits. A binary option is similar to a normal “vanilla” option where the value of the derivative is based on the value of the underlying asset. The main difference to a vanilla option is the payout of the trades. As binary trading is a relatively new way of investing, it is still uncommon for many private investors. The purpose of the thesis is to introduce the binary option as an investment method for novice ...

  14. Expanding policy options for educating teenagers.

    Science.gov (United States)

    Stern, David

    2009-01-01

    David Stern argues that some basic features of the American high school must be modified if it is to serve all students successfully. He notes, for example, that only three-quarters of U.S. high school students graduate four years after beginning ninth grade and that the National Assessment of Educational Progress found no improvement in reading or mathematics for seventeen-year-olds between 1971 and 2004. The nation's system for educating teenagers, says Stern, seems to be stuck, despite the constant efforts of teachers and repeated waves of reform. Citing two widely accepted public purposes of educating teenagers-preparation for civic participation and for economic self-sufficiency-Stern proposes four new strategies to achieve those goals. He draws on empirical evidence suggesting that these are promising directions for research and policy, but acknowledges that existing studies provide only limited guidance. First, he says, schools should continue the current trend toward integrating educational options to provide young people with skills and experiences that pave the way to both college and careers. Second, states and districts should tie education funding not simply to the number of students attending school, but also to what young people learn, whether they graduate, and whether they find jobs or enroll in postsecondary education. Such a move, he argues, would encourage teaching and learning formats that use students' time more effectively. Third, more adults in addition to classroom teachers should be involved in educating teenagers. Other adults acting as academic advisers, learning coaches, student advocates, internship supervisors, mentors, and college counselors could help guide the education of teenagers inside and outside of school and provide some relief for the chronic shortage of teachers. Fourth, schools should expand the options for educating teenagers outside of geographically fixed schools. Combining improved Internet-based curriculum with

  15. American Connections

    DEFF Research Database (Denmark)

    Petersen, Anne Ring

    2015-01-01

    The Danish artist Thomas Bang spent his early years in the USA. The works he created in this formative period were thus profoundly shaped by the contemporary movements in American art of the 1960s and 1970s when sculpture, or to be more precise, three-dimensional work became a hotbed of expansive...... experiments. This article traces how Bang made a radical move from painting to sculpture, which was characteristic of that time, and how he developed his artistic idiom by taking an active part in some of the seminal new departures in American art, in particular process art and post-minimalism. By leaping...... to the lasting impact of Bang's American period, which remains the key to understanding his works....

  16. 19 CFR 10.605 - Goods classifiable as goods put up in sets.

    Science.gov (United States)

    2010-04-01

    ... 19 Customs Duties 1 2010-04-01 2010-04-01 false Goods classifiable as goods put up in sets. 10.605... put up in sets. Notwithstanding the specific rules set forth in General Note 29(n), HTSUS, goods classifiable as goods put up in sets for retail sale as provided for in General Rule of Interpretation 3,...

  17. The Effects of Multisensory Imagery in Conjunction with Physical Movement Rehearsal on Golf Putting Performance

    Science.gov (United States)

    Ploszay, A. J.; Gentner, Noah B.; Skinner, Christopher H.; Wrisberg, Craig A.

    2006-01-01

    A multiple-baseline design was used to evaluate the effects of a pre-shot putting routine on the putting performance of four NCAA Division I golfers. The routine involved a combination of multisensory imagery and simulated putting movements. Results suggested that the intervention was effective for some participants. Discussion focuses on…

  18. The Effects of Multisensory Imagery in Conjunction with Physical Movement Rehearsal on Golf Putting Performance

    Science.gov (United States)

    Ploszay, A. J.; Gentner, Noah B.; Skinner, Christopher H.; Wrisberg, Craig A.

    2006-01-01

    A multiple-baseline design was used to evaluate the effects of a pre-shot putting routine on the putting performance of four NCAA Division I golfers. The routine involved a combination of multisensory imagery and simulated putting movements. Results suggested that the intervention was effective for some participants. Discussion focuses on…

  19. Forecasting with Option-Implied Information

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Jacobs, Kris; Chang, Bo Young

    2013-01-01

    This chapter surveys the methods available for extracting information from option prices that can be used in forecasting. We consider option-implied volatilities, skewness, kurtosis, and densities. More generally, we discuss how any forecasting object that is a twice differentiable function...... of the future realization of the underlying risky asset price can utilize option-implied information in a well-defined manner. Going beyond the univariate option-implied density, we also consider results on option-implied covariance, correlation and beta forecasting, as well as the use of option......-implied information in cross-sectional forecasting of equity returns. We discuss how option-implied information can be adjusted for risk premia to remove biases in forecasting regressions....

  20. Heterogeneous Beliefs, Public Information, and Option Markets

    DEFF Research Database (Denmark)

    Qin, Zhenjiang

    In an incomplete market setting with heterogeneous prior beliefs, I show that public information and strike price of option have substantial infl‡uence on asset pricing in option markets, by investigating an absolute option pricing model with negative exponential utility investors and normally di...... with intermediate strike price, the highest efficiency of side-betting is achieved, re‡ected by a unique maximum point of the ex ante equilibrium interest rate. The public signal precision affects ex ante equilibrium risk premium only via its relationship with option.......In an incomplete market setting with heterogeneous prior beliefs, I show that public information and strike price of option have substantial infl‡uence on asset pricing in option markets, by investigating an absolute option pricing model with negative exponential utility investors and normally...

  1. American Dream in Early American Literatuer

    Institute of Scientific and Technical Information of China (English)

    屈彩娥; 李小玺

    2008-01-01

    American dream has often been closely rehted to American literature.Many say that the American literary history can be seen as the history of American dreams.In most periods in history,writers,whose dreams have been infused in a variety of characters create the American literature.While in Early American literature,American dream had been presented in a dif-ferent way.

  2. ATR Spent Fuel Options Study

    Energy Technology Data Exchange (ETDEWEB)

    Connolly, Michael James [Idaho National Lab. (INL), Idaho Falls, ID (United States); Bean, Thomas E. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Brower, Jeffrey O. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Luke, Dale E. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Patterson, M. W. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Robb, Alan K. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Sindelar, Robert [Idaho National Lab. (INL), Idaho Falls, ID (United States); Smith, Rebecca E. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Tonc, Vincent F. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Tripp, Julia L. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Winston, Philip L. [Idaho National Lab. (INL), Idaho Falls, ID (United States)

    2017-01-01

    The Advanced Test Reactor (ATR) is a materials and fuels test nuclear reactor that performs irradiation services for the U.S. Department of Energy (DOE) Office of Nuclear Energy (NE), Naval Reactors, the National Nuclear Security Administration (NNSA), and other research programs. ATR achieved initial criticality in 1967 and is expected to operate in support of needed missions until the year 2050 or beyond. It is anticipated that ATR will generate approximately 105 spent nuclear fuel (SNF) elements per year through the year 2050. Idaho National Laboratory (INL) currently stores 2,008 ATR SNF elements in dry storage, 976 in wet storage, and expects to have 1,000 elements in wet storage before January 2017. A capability gap exists at INL for long-term (greater than the year 2050) management, in compliance with the Idaho Settlement Agreement (ISA), of ATR SNF until a monitored retrievable geological repository is open. INL has significant wet and dry storage capabilities that are owned by the DOE Office of Environmental Management (EM) and operated and managed by Fluor Idaho, which include the Idaho Nuclear Technology and Engineering Center’s (INTEC’s) CPP-666, CPP-749, and CPP-603. In addition, INL has other capabilities owned by DOE-NE and operated and managed by Battelle Energy Alliance, LLC (BEA), which are located at the Materials and Fuel Complex (MFC). Additional storage capabilities are located on the INL Site at the Naval Reactors Facility (NRF). Current INL SNF management planning, as defined in the Fluor Idaho contract, shows INTEC dry fuel storage, which is currently used for ATR SNF, will be nearly full after transfer of an additional 1,000 ATR SNF from wet storage. DOE-NE tasked BEA with identifying and analyzing options that have the potential to fulfill this capability gap. BEA assembled a team comprised of SNF management experts from Fluor Idaho, Savannah River Site (SRS), INL/BEA, and the MITRE Corp with an objective of developing and analyzing

  3. Active surveillance of prostate cancer in African American men.

    Science.gov (United States)

    Silberstein, Jonathan L; Feibus, Allison H; Maddox, Michael M; Abdel-Mageed, Asim B; Moparty, Krishnarao; Thomas, Raju; Sartor, Oliver

    2014-12-01

    Active surveillance (AS) is a treatment strategy for prostate cancer (PCa) whereby patients diagnosed with PCa undergo ongoing characterization of their disease with the intent of avoiding radical treatment. Previously, AS has been demonstrated to be a reasonable option for men with low-risk PCa, but existing cohorts largely consist of Caucasian Americans. Because African Americans have a greater incidence, more aggressive, and potentially more lethal PCa than Caucasian Americans, it is unclear if AS is appropriate for African Americans. We performed a review of the available literature on AS with a focus on African Americans.

  4. Households facing constraints. Fuel poverty put into context

    Energy Technology Data Exchange (ETDEWEB)

    Dubois, Ute [ISG Business School, Paris (France); Meier, Helena [Koeln Univ. (Germany). Energiewirtschaftliches Inst.

    2014-02-15

    The present paper discusses the concept of fuel poverty taking into account the arbitrages made by households when they are facing economic constraints. Fuel poverty is still lacking a common definition throughout Europe: while the UK and France have (different) official definitions, there is still no definition in a country like Germany, or at the European level. Where definitions exist, they often consider that fuel poor households have high energy needs. The possibility of being fuel poor even without having high energy needs and the various arbitrage possibilities of households - i.e. to under-spend and use too little energy - are not systematically discussed. Our paper tries to fill that gap by putting fuel poverty into the larger context of constraints faced by households. Based on a graphical analysis, it shows that different situations of fuel poverty might occur. It results in the identification of two distinct fuel poverty problems: an ''energy inequality'' problem, reflected by the fact that some households pay disproportionately high energy bills, and an ''energy affordability'' problem that can affect a larger share of the population. It finally explores the two types of fuel poverty for European countries and discusses policy implications.

  5. Putting flexible animal prospection into context: escaping the theoretical box.

    Science.gov (United States)

    Osvath, Mathias

    2016-01-01

    The debate on non-human future-oriented cognition has long revolved around the question whether such cognition at all occurs. Closer inspection reveals just how much cognition in general-down to its simplest forms-is geared toward predicting the future in a bid to maintain homeostasis and fend off entropy. Over the course of life's existence on Earth, evolution and natural selection have, through a series of evolutionary arms races, gotten increasingly good at achieving this. Prospection has reached its current pinnacle based partly on a system for episodic cognition that-as research increasingly is showing-is not limited principally to human beings. Nevertheless, and despite some notable recent defections, many researchers remain convinced of the merits of the Bischof-Köhler Hypothesis with its claim that no species other than human beings is able to anticipate future needs or otherwise live in anything other than the immediate present moment. What might, at first, appear to be empirical disputes turn out to reveal largely unquestioned theoretical divides. Without due care, one risks setting out conditions for 'true' future orientation that are irrelevant for describing human cognition. In sorting out the theoretical and terminological muddle framing contemporary debate, this article makes a plea for moving beyond past dogmas while putting animal prospection research into the context of evolution and contemporary cognitive science. For further resources related to this article, please visit the WIREs website. © 2015 Wiley Periodicals, Inc.

  6. Skilful Practice in the Zhuangzi: Putting the Narratives in Context

    Directory of Open Access Journals (Sweden)

    Dušan VÁVRA

    2017-01-01

    Full Text Available The Zhuangzi, like many other early Chinese texts, is a composite work consisting of relatively short textual units. Despite its composite nature, the Zhuangzi is often approached as a philosophical work, which (at least in part or parts can be viewed as philosophically coherent. As a result, the Zhuangzi as a whole (or several wholes is usually taken (at least implicitly as the context in which all the textual units are read and understood. In contrast, this paper explores alternative ways to establish context for individual textual units in the Zhuangzi. The famous short narratives about skilful practice (often introducing the idea of perfect craftsmanship are taken as an example, and the possible contexts are examined along two lines of inquiry: 1 the narratives are read within their immediate context of the textual unit; 2 the vocabulary used in the narratives is checked against other textual units in the Zhuangzi where the vocabulary appears. The paper argues that diverse contexts can be established for seemingly similar narratives. The narratives about skilful practice are viewed as a literary device that can be used in various contexts for various purposes. The paper thus demonstrates that the received Zhuangzi can be read as a process of putting shared narratives and terms in contexts and using them for different ends. The paper concludes by suggesting that the proposed reading highlights and retains meanings that are necessarily obscured by any reading that establishes the whole Zhuangzi as the primary context.

  7. Putting Qumran, Jesus and his movement into relief

    Directory of Open Access Journals (Sweden)

    Eben Scheffler

    2016-05-01

    Full Text Available After referring briefly to the fantasies regarding the origins of Christianity as elicited by the discovery of the Dead Sea Scrolls in 1947 (Dupont-Sommer, Allegro, Thiering, the purpose of the contribution is to put the Jesus movement into relief in the context of first-century Judaism. The identity of the Qumranites is argued to be Essene scribes. The identity, ideology and practices of the latter are compared with those of Jesus of Nazareth and the movement he elicited using the following rubrics: (1 Jesus, the teacher of righteousness and the powers that be; (2 asceticism versus itinerary charismaticism; (3 caring versus lack of caring for the sick, poor and marginalised; (4 elitist priests and scribes versus lower-class peasants; (5 the interpretation of the law; (6 religious and daily practices (baptism, ritual meal, sacrifice, prayer, community of possessions, scribal activity; (7 religious views or ideology (kingdom of God, the new covenant, light and darkness, politics. The result is a picture of Jesus (with his focus on human suffering in sharp relief versus Qumran and facets of the early church.

  8. Putting science at the heart of European policy

    CERN Multimedia

    2015-01-01

    One year ago, the incoming European Commission President Jean-Claude Juncker shocked the scientific world by scrapping the post of Chief Scientific Advisor. This week, the Commission made amends by launching a well-considered Scientific Advisory Mechanism (SAM) that not only puts science back at the heart of policy, but does so in a much more structured and robust way than conferring such responsibility on a single individual.     The SAM has two independent strands: an advisory group of seven scientists, and funding through the Horizon 2020 programme for national academies and learned societies to network and collaborate on policy issues. Both are backed up by a secretariat at Commission headquarters in Brussels. When Mr Juncker scrapped the role of Chief Scientific Advisor, it was against a backdrop of sometimes vitriolic attacks on the incumbent, Anne Glover, due to her outspoken views on GMOs. Mr Juncker’s move was seen by some as simply giving in to a powerful lob...

  9. Don’t put your family at risk

    CERN Multimedia

    Computer Security Team

    2013-01-01

    How easy is it to fall into the trap of cyber-criminals? Get one’s online banking password stolen? Lose photos to third parties? It's easier than you think. One single click to open a malicious attachment or a malicious web page is sufficient to put your family at risk.   Sometimes adversaries even call you in order to get their malicious job done. Once their malware is installed on your home computer, it records all your activity, monitors your online banking activities, steals your passwords, activates your computer’s microphone and camera, and sends all that data back to the adversary. This person can now do whatever they want: take money from your bank account, order books with your Amazon password, deface your Facebook profiles, send strange messages to your peers, or post the captured images of your daughter in front of the computer on dodgy web sites. Not only can you lose (lots of!) money, but having strange messages sent on your b...

  10. Case studies in control putting theory to work

    CERN Document Server

    Juričić, Đani

    2013-01-01

    Case Studies in Control presents a framework to facilitate the use of advanced control concepts in real systems based on two decades of research and over 150 successful applications for industrial end-users from various backgrounds. In successive parts the text approaches the problem of putting the theory to work from both ends, theoretical and practical. The first part begins with a stress on solid control theory and the shaping of that theory to solve particular instances of practical problems. It emphasizes the need to establish by experiment whether a model-derived solution will perform properly in reality. The second part focuses on real industrial applications based on the needs and requirements of end-users. Here, the engineering approach is dominant but with theoretical input of varying degree depending on the particular process involved. Following the illustrations of the progress that can be made from either extreme of the well-known theory–practice divide, the text proceeds to a third part relate...

  11. The no-arbitrage efficiency test of the OMX Index option market

    DEFF Research Database (Denmark)

    Hou, Ai Jun; Wiktorsson, Magnus; Zhao, RuiZhi

    2012-01-01

    in the market. Then a variance based efficiency test is performed by establish- ing a risk neutral portfolio and re-balance the initial portfolio in different trading strategies. In order to choose the most appropriate model for option price and hedging strategies, we calibrate several most applied models, i......In this paper, we test the market efficiency of the OMXS30 Index option market. The market efficiency definition is the absence of arbitrage oppor- tunity in the market. We first check the arbitrage opportunity by examining the boundary conditions and the Put-Call-Parity that must be satisfied...... that no significant abnormal returns can be obtained in the OMXS30 option market, therefore supporting the market efficiency....

  12. The need and options available for permanent CO{sub 2} disposal

    Energy Technology Data Exchange (ETDEWEB)

    Ziock, H.J.; Butt, D.P.; Lackner, K.S.; Wendt, C.H.

    1999-04-01

    Inexpensive, readily available energy is the cornerstone of modern society and the basis of a decent standard of living. The high probability of future restrictions on CO{sub 2} emissions has put in question the use of fossil fuels, the largest, most convenient, and most cost-effective energy resource available. The rapidly growing world population, the need for an improved standard of living worldwide, and the nearly linear dependence of the standard of living on energy consumption, all coupled with the magnitude of today`s CO{sub 2} emissions point to an impending crisis. The authors briefly review the problem and look at the available options. They conclude that for the foreseeable future, fossil fuels will continue to dominate the world energy market, but that CO{sub 2} disposal will be required. Of the possible disposal options, mineral sequestration of CO{sub 2} appears as an extremely promising, permanent, and environmentally benign disposal option.

  13. Efficient Option Pricing in Crisis Based on Dynamic Elasticity of Variance Model

    Directory of Open Access Journals (Sweden)

    Congyin Fan

    2016-01-01

    Full Text Available Market crashes often appear in daily trading activities and such instantaneous occurring events would affect the stock prices greatly. In an unstable market, the volatility of financial assets changes sharply, which leads to the fact that classical option pricing models with constant volatility coefficient, even stochastic volatility term, are not accurate. To overcome this problem, in this paper we put forward a dynamic elasticity of variance (DEV model by extending the classical constant elasticity of variance (CEV model. Further, the partial differential equation (PDE for the prices of European call option is derived by using risk neutral pricing principle and the numerical solution of the PDE is calculated by the Crank-Nicolson scheme. In addition, Kalman filtering method is employed to estimate the volatility term of our model. Our main finding is that the prices of European call option under our model are more accurate than those calculated by Black-Scholes model and CEV model in financial crashes.

  14. Methodology for ranking restoration options

    DEFF Research Database (Denmark)

    Jensen, Per Hedemann

    1999-01-01

    The work described in this report has been performed as a part of the RESTRAT Project FI4P-CT95-0021a (PL 950128) co-funded by the Nuclear Fission Safety Programme of the European Commission. The RESTRAT project has the overall objective of developinggeneric methodologies for ranking restoration...... techniques as a function of contamination and site characteristics. The project includes analyses of existing remediation methodologies and contaminated sites, and is structured in the following steps:-characterisation of relevant contaminated sites -identication and characterisation of relevant restoration...... techniques -assessment of the radiological impact -development and application of a selection methodology for restoration options -formulation ofgeneric conclusions and development of a manual The project is intended to apply to situations in which sites with nuclear installations have been contaminated...

  15. Regional transport sector mitigation options

    Energy Technology Data Exchange (ETDEWEB)

    Zhou, Peter [EECG Consultants, Gaborone (Botswana)

    1998-10-01

    The rationale for conducting climate change mitigation studies in the transport sector is on the premise that: The transport sector is the second largest consumer of fossil fuels in the region; The regional transport sector is an area with high opportunity for infrastructural development under UNFCCC financial mechanism; The regional transport sector is crucial in the SADC region for trade and coupled with the Trade Protocol will play a major role in development hence the need to make it efficient in terms of energy demand and provision of services; The sector offers many mitigation options but with a challenge to evaluate their energy saving and GHG saving potential and yet there is need to quantify possible emission reduction for possible future emission trading. This is also a sector with potential to qualify for financing through Clean Development Mechanism (CDM) recently stipulated in the Kyoto Protocol. (au)

  16. Therapeutic options for lip augmentation.

    Science.gov (United States)

    Segall, Lorne; Ellis, David A F

    2007-11-01

    Aesthetic ideals vary with emerging fashion trends and within different cultures. However, over the past few decades, fuller lips have been considered a desirable trait. Many younger patients are presenting for lip augmentation to achieve the sought-after look commonly seen in many fashion magazines. In addition, as individuals age, they lose lip volume, with a thinning of the red lip, some effacement of the vermillion border, and elongation and flattening of the white portion of the lip. Rejuvenation of the lips plays a key role in restoring a more youthful appearance. As a result, lip augmentation appeals to a wide spectrum of patients who present with various different aesthetic goals and expectations. Numerous therapeutic options exist for aesthetic lip augmentation, ranging from temporary and permanent injectable fillers to implants and other surgical techniques.

  17. Operational Options for Green Ships

    Institute of Scientific and Technical Information of China (English)

    Salma Sherbaz; Wenyang Duan

    2012-01-01

    Environmental issues and rising fuel prices necessitate better energy-efficiency in all sectors.The shipping industry is one of the major stakeholders,responsible for 3% of global CO2 emissions,14%-15% of global NOx emissions,and 16% of global SOx emissions.In addition,continuously rising fuel prices are also an incentive to focus on new ways for better energy-effectiveness.The green ship concept requires exploring and implementing technology on ships to increase energy-efficiency and reduce emissions.Ship operation is an important topic with large potential to increase cost-and-energy-effectiveness.This paper provided a comprehensive review of basic concepts,principles,and potential of operational options for green ships.The key challenges pertaining to ship crew i.e.academic qualifications prior to induction,in-service training and motivation were discussed.The author also deliberated on remedies to these challenges.

  18. Operational options for green ships

    Science.gov (United States)

    Sherbaz, Salma; Duan, Wenyang

    2012-09-01

    Environmental issues and rising fuel prices necessitate better energy-efficiency in all sectors. The shipping industry is one of the major stakeholders, responsible for 3% of global CO2 emissions, 14%-15% of global NO X emissions, and 16% of global SO X emissions. In addition, continuously rising fuel prices are also an incentive to focus on new ways for better energy-effectiveness. The green ship concept requires exploring and implementing technology on ships to increase energy-efficiency and reduce emissions. Ship operation is an important topic with large potential to increase cost-and-energy-effectiveness. This paper provided a comprehensive review of basic concepts, principles, and potential of operational options for green ships. The key challenges pertaining to ship crew i.e. academic qualifications prior to induction, in-service training and motivation were discussed. The author also deliberated on remedies to these challenges.

  19. ORGANIZATIONAL DEVELOPMENT OPTIONS TOWARDS SUSTAINABILITY

    Directory of Open Access Journals (Sweden)

    Patricia Ingrid, Keller

    2012-01-01

    Full Text Available The implementation of business strategies that build value throughout the supply chain of goods and services and simultaneously contribute to sustainability is one of the most difficult to address in practice. So for the present study we researched the possible strategies, identifying those options to successfully integrate the dimensions of sustainability into organizational development from a systems perspective and its possibilities and limitations. The characteristic activities of the five possible choices - risk management, image building and reputation, productivity and efficiency, innovation and market development - can be implemented in pure form, in combination or sequentially. In this way you can build competitive advantages in the context of sustainability, which allows the company to achieve greater chance of success, not only in the short term but also medium and long term.

  20. Strategic Options Development and Analysis

    Science.gov (United States)

    Ackermann, Fran; Eden, Colin

    Strategic Options Development and Analysis (SODA) enables a group or individual to construct a graphical representation of a problematic situation, and thus explore options and their ramifications with respect to a complex system of goals or objectives. In addition the method aims to help groups arrive at a negotiated agreement about how to act to resolve the situation. It is based upon the use of causal mapping - a formally constructed means-ends network - as representation form. Because the picture has been constructed using the natural language of the problem owners it becomes a model of the situation that is ‘owned' by those who define the problem. The use of formalities for the construction of the model makes it amenable to a range of analyses as well as encouraging reflection and a deeper understanding. These analyses can be used in a ‘rough and ready' manner by visual inspection or through the use of specialist causal mapping software (Decision Explorer). Each of the analyses helps a group or individual discover important features of the problem situation, and these features facilitate agreeing agood solution. The SODA process is aimed at helping a group learn about the situation they face before they reach agreements. Most significantly the exploration through the causal map leads to a higher probability of more creative solutions and promotes solutions that are more likely to be implemented because the problem construction process is wider and more likely to include richer social dimensions about the blockages to action and organizational change. The basic theories that inform SODA derive from cognitive psychology and social negotiation, where the model acts as a continuously changing representation of the problematic situation - changing as the views of a person or group shift through learning and exploration. This chapter, jointly written by two leading practitioner academics and the original developers of SODA, Colin Eden and Fran Ackermann

  1. Disc degeneration: current surgical options

    Directory of Open Access Journals (Sweden)

    C Schizas

    2010-10-01

    Full Text Available Chronic low back pain attributed to lumbar disc degeneration poses a serious challenge to physicians. Surgery may be indicated in selected cases following failure of appropriate conservative treatment. For decades, the only surgical option has been spinal fusion, but its results have been inconsistent. Some prospective trials show superiority over usual conservative measures while others fail to demonstrate its advantages. In an effort to improve results of fusion and to decrease the incidence of adjacent segment degeneration, total disc replacement techniques have been introduced and studied extensively. Short-term results have shown superiority over some fusion techniques. Mid-term results however tend to show that this approach yields results equivalent to those of spinal fusion. Nucleus replacement has gained some popularity initially, but evidence on its efficacy is scarce. Dynamic stabilisation, a technique involving less rigid implants than in spinal fusion and performed without the need for bone grafting, represents another surgical option. Evidence again is lacking on its superiority over other surgical strategies and conservative measures. Insertion of interspinous devices posteriorly, aiming at redistributing loads and relieving pain, has been used as an adjunct to disc removal surgery for disc herniation. To date however, there is no clear evidence on their efficacy. Minimally invasive intradiscal thermocoagulation techniques have also been tried, but evidence of their effectiveness is questioned. Surgery using novel biological solutions may be the future of discogenic pain treatment. Collaboration between clinicians and basic scientists in this multidisciplinary field will undoubtedly shape the future of treating symptomatic disc degeneration.

  2. American Houses

    Institute of Scientific and Technical Information of China (English)

    张梦华

    2004-01-01

    American houses usually have private kitchens,a living room and sometimes separate areas for eating and watching television,A house usually has its own mailbox,a yard with plants or perhaps a lawn,and a place to store garbage out of sight.

  3. Oxygen Reactivity of PutA from Helicobacter Species and Proline-Linked Oxidative Stress

    OpenAIRE

    Krishnan, Navasona; Becker, Donald F.

    2006-01-01

    Proline is converted to glutamate in two successive steps by the proline utilization A (PutA) flavoenzyme in gram-negative bacteria. PutA contains a proline dehydrogenase domain that catalyzes the flavin adenine dinucleotide (FAD)-dependent oxidation of proline to Δ1-pyrroline-5-carboxylate (P5C) and a P5C dehydrogenase domain that catalyzes the NAD+-dependent oxidation of P5C to glutamate. Here, we characterize PutA from Helicobacter hepaticus (PutAHh) and Helicobacter pylori (PutAHp) to pro...

  4. Tackling sleeplessness: Psychological treatment options for insomnia

    Directory of Open Access Journals (Sweden)

    Natalie D Dautovich

    2010-03-01

    Full Text Available Natalie D Dautovich1, Joseph McNamara2, Jacob M Williams3, Natalie J Cross4, Christina S McCrae31Department of Psychology, 2Department of Psychiatry, 3Department of Clinical and Health Psychology, University of Florida, Gainesville, FL, USA; 4Department of Veterans Affairs Community Based Outpatient Clinic, Greenville, NC, USAAbstract: The purpose of the present paper is to review and summarize the research supporting nonpharmacologic treatment options for insomnia. The different treatment approaches are described followed by a review of both original research articles and meta-analyses. Meta-analytic reviews suggest that common nonpharmacologic approaches exert, on average, medium to large effect sizes on SOL, WASO, NWAK, SQR, and SE while smaller effects are seen for TST. Stimulus control therapy, relaxation training, and CBT-I are considered standard treatments for insomnia by the American Academy of Sleep Medicine (AASM. Sleep restriction, multicomponent therapy without cognitive therapy, paradoxical intention, and biofeedback approaches have received some levels of support by the AASM. Sleep hygiene, imagery training, and cognitive therapy did not receive recommendation levels as single (standalone therapies by the AASM due to lack of empirical evidence. Less common approaches have been introduced (Internet-based interventions, bright light treatment, biofeedback, mindfulness, acupuncture, and intensive sleep retraining but require further research. Brief and group treatments have been shown to be as efficacious as longer and individually-administered treatments. Considerations are presented for special populations, including older adults, children and teens, individuals from diverse cultural backgrounds, insomnia comorbid with other disorders, and individuals who are taking hypnotics.Keywords: insomnia, nonpharmacologic, psychological, behavioral, treatments, sleep

  5. American Culture Reflected in American English

    Institute of Scientific and Technical Information of China (English)

    李华芳

    2013-01-01

    Language is a vehicle for culture. It is also a key component of culture. It not only reflects culture but also influences culture. As a variety of British English, American English, especially American words and expressions can reflect American culture from many aspects. This paper studies some typical traits of American culture reflected in words and expressions of American Eng-lish.

  6. "Put yourself in the skin of the child," she said.

    Science.gov (United States)

    Goldstein, J; Goldstein, S

    1996-01-01

    Two Native American children were adopted by a non-Indian family. Following a legal challenge under the provisions of the Indian Child Welfare Act, the case became before both the United States Supreme Court and an Indian Tribal Court. In this paper we analyze the procedure and outcome of this transcultural adoption case from the point of view of the children involved and compare it with the intracultural "Baby Richard" case. Anna Freud believed that continuity of care is vital for each child's healthy growth and development. Transcultural adoptions highlight questions that characterize contested placements, whether or not they cross cultural boundaries and whether or not they place children across lines of race, color, religion, or national origin.

  7. Putting the benefits and risks of aerobic exercise in perspective.

    Science.gov (United States)

    Franklin, Barry A; Billecke, Scott

    2012-01-01

    Although considerable epidemiologic and clinical evidence suggests that structured exercise, increased lifestyle activity, or both are cardioprotective, the absolute and relative risk of cardiovascular and musculoskeletal complications appear to increase transiently during vigorous physical activity. The estimated relative risk of exercise-related cardiac events ranges from 2.1 to 56 and is highest among habitually sedentary individuals with underlying cardiovascular disease who were performing unaccustomed vigorous physical exertion. Moreover, an estimated 7 million Americans receive medical attention for sports and recreation-related injuries each year. These risks, and their modulators, should be considered when endorsing strenuous leisure time or exercise interventions. If the current mantra "exercise is medicine" is embraced, underdosing and overdosing are possible. Thus, exercise may have a typical dose-response curve with a plateau in benefit or even adverse effects, in some individuals, at more extreme levels.

  8. Putting Personal Knowledge Management under the Macroscope of Informing Science

    Directory of Open Access Journals (Sweden)

    Ulrich Schmitt

    2015-08-01

    Full Text Available The paper introduces a novel Personal Knowledge Management (PKM concept and prototype system. The system’s objective is to aid life-long-learning, resourcefulness, creativity, and teamwork of individuals throughout their academic and professional life and as contributors and beneficiaries of organizational and societal performance. Such a scope offers appealing and viable opportunities for stakeholders in the educational, professional, and developmental context. To further validate the underlying PKM application design, the systems thinking techniques of the transdiscipline of Informing Science (IS are employed. By applying Cohen’s IS-Framework, Leavitt’s Diamond Model, the IS-Meta Approach, and Gill’s and Murphy’s Three Dimensions of Design Task Complexity, the more specific KM models and methodologies central to the PKMS concept are aligned, introduced, and visualized. The extent of this introduction offers an essential overview, which can be deepened and broadened by using the cited URL and DOI links pointing to the available resources of the author’s prior publications. The paper emphasizes the differences of the proposed meme-based PKM System compared to its traditional organizational document-centric counterparts as well as its inherent complementing synergies. As a result, it shows how the system is closing in on Vannevar Bush’s still unfulfilled vison of the ‘Memex’, an as-close-as-it-gets imaginary ancestor celebrating its 70th anniversary as an inspiring idea never realized. It also addresses the scenario recently put forward by Levy which foresees a decentralizing revolution of knowledge management that gives more power and autonomy to individuals and self-organized groups. Accordingly, it also touches on the PKM potential in terms of Kuhn’s Scientific Revolutions and Disruptive Innovations.

  9. Pricing real estate index options under stochastic interest rates

    Science.gov (United States)

    Gong, Pu; Dai, Jun

    2017-08-01

    Real estate derivatives as new financial instruments are not merely risk management tools but also provide a novel way to gain exposure to real estate assets without buying or selling the physical assets. Although real estate derivatives market has exhibited a rapid development in recent years, the valuation challenge of real estate derivatives remains a great obstacle for further development in this market. In this paper, we derive a partial differential equation contingent on a real estate index in a stochastic interest rate environment and propose a modified finite difference method that adopts the non-uniform grids to solve this problem. Numerical results confirm the efficiency of the method and indicate that constant interest rate models lead to the mispricing of options and the effects of stochastic interest rates on option prices depend on whether the term structure of interest rates is rising or falling. Finally, we have investigated and compared the different effects of stochastic interest rates on European and American option prices.

  10. Finally, a way to put your Internet portfolio in order.

    Science.gov (United States)

    Tjan, A K

    2001-02-01

    Eager to capitalize on the Internet's potential, many companies have allowed scores of on-line projects to bubble up throughout their organizations. The result? More harm than good, as companies find themselves confusing customers, aggravating employees, and wasting bushels of money. In this article, consultant Anthony Tjan explains how companies can do better. By adapting classical portfolio strategy to the digital age, executives can coordinate their Internet initiatives to avoid the needless headaches and spending, he says. Much of the market and industry data that underpin traditional portfolio analysis is unavailable for the Internet space, so Tjan replaces the two criteria used in traditional portfolio analysis--market position and industry attractiveness--with business viability and business fit. Viability captures the available quantitative data about an investment's likely payoff. Fit is qualitative; it measures the degree to which an investment dovetails with a company's existing processes, capabilities, and culture. Using viability and fit to assess their online initiatives, companies can then plot these efforts onto a simple matrix, called an Internet portfolio map. Their location on the matrix will suggest whether each initiative should be invested in, redesigned, sold or spun out, or killed. As Tjan notes, the process of organizing and evaluating new investment options against coherent, meaningful criteria isn't new. In the digital era, what is new are the tools you use. Internet portfolio planning is one such tool.

  11. Automatic Extraction of JPF Options and Documentation

    Science.gov (United States)

    Luks, Wojciech; Tkachuk, Oksana; Buschnell, David

    2011-01-01

    Documenting existing Java PathFinder (JPF) projects or developing new extensions is a challenging task. JPF provides a platform for creating new extensions and relies on key-value properties for their configuration. Keeping track of all possible options and extension mechanisms in JPF can be difficult. This paper presents jpf-autodoc-options, a tool that automatically extracts JPF projects options and other documentation-related information, which can greatly help both JPF users and developers of JPF extensions.

  12. A simulation of water call option prices

    OpenAIRE

    1994-01-01

    Ankara : The Department of Economics and the Institute of Economics and Social Sciences of Bilkent Univ., 1994. Thesis (Master's) -- Bilkent University, 1994. Includes bibliographical references. The popularity of iinancial derivatives and especially options is widespread in the last decade. Although various commodity options became popular nowadays, no form of water option happened to arise because there were no need. On the other hand, Turkey and the Middle East countries ...

  13. American eugenics

    Directory of Open Access Journals (Sweden)

    Darko Polsek

    2002-12-01

    Full Text Available The article describes a troubled history of eugenics in the US, from its beginnings at the end of the 19th century, through the whole of the 20th. It is a part of a larger historical study on eugenics. It focuses on Davenport, Laughlin, Estabrook and the Eugenic Record Office, on the early racist eugenicists like Grant and Ross, and on sterilization legislation in the twenties and thirties. The intention however was to put the historical debate into a contemporary context, or at least to show that some eugenic ideas have lived long after everybody thought they were dead. There are some hints and quotations that show it might still be possible to misuse sterilisation in the US today.

  14. American Connections

    DEFF Research Database (Denmark)

    Petersen, Anne Ring

    2015-01-01

    The Danish artist Thomas Bang spent his early years in the USA. The works he created in this formative period were thus profoundly shaped by the contemporary movements in American art of the 1960s and 1970s when sculpture, or to be more precise, three-dimensional work became a hotbed of expansive...... experiments. This article traces how Bang made a radical move from painting to sculpture, which was characteristic of that time, and how he developed his artistic idiom by taking an active part in some of the seminal new departures in American art, in particular process art and post-minimalism. By leaping...... forward to Bang's later works produced after his return to Denmark, the article also demonstrates how the sculptural syntax and working principles developed in the early works still underlie and structure the artist's more allegorical sculptures and installations from the 2000s, thus testifying...

  15. Disaggregated Futures and Options Commitments of Traders

    Data.gov (United States)

    Commodity Futures Trading Commission — The Disaggregated Futures and Options Commitments of Traders dataset provides a breakdown of each week's open interest for agriculture, energy, metals, lumber, and...

  16. Numerical Algorithm for Delta of Asian Option

    Directory of Open Access Journals (Sweden)

    Boxiang Zhang

    2015-01-01

    Full Text Available We study the numerical solution of the Greeks of Asian options. In particular, we derive a close form solution of Δ of Asian geometric option and use this analytical form as a control to numerically calculate Δ of Asian arithmetic option, which is known to have no explicit close form solution. We implement our proposed numerical method and compare the standard error with other classical variance reduction methods. Our method provides an efficient solution to the hedging strategy with Asian options.

  17. Current management options for tyrosinemia

    Directory of Open Access Journals (Sweden)

    El-Shabrawi MH

    2013-03-01

    Full Text Available Mortada Hassan El-Shabrawi, Naglaa Mohamed KamalPediatric Hepatology, Faculty of Medicine, Cairo University, Cairo, EgyptAbstract: Hypertyrosinemia is observed in three inherited disorders of tyrosine metabolism. Hereditary Tyrosinemia Type I (HTT-I, or hepatorenal tyrosinemia, is an autosomal recessive disorder caused by mutation in the fumarylacetoacetate hydrolase (FAH gene. HTT-I is associated with severe involvement of the liver, kidneys, and central nervous system, and is due to toxic accumulation of metabolites of tyrosine, such as succinylacetone. HTT-I is the inborn error with the highest incidence of progression to hepatocellular carcinoma. Elevated succinylacetone, in dried filter paper blood samples, or in plasma or urine, is pathognomonic and diagnostic for HTT-I and is the most reliable neonatal screening method. Liver transplantation is the definitive management, but the need for this is markedly decreased by the combined dietary and drug management. A diet low in tyrosine and phenylalanine, plus nitisinone (2-[2-nitro-4-trifluoromethylbenzoyl]-1,3-cyclohexanedione (NCTB are considered the gold standard management options. Carnitine and 1,25-OH-vitamin D are adjuvant therapy. Strict follow up with succinylacetone level for monitoring of treatment should be done. Abdominal ultrasonography and abdominal computerized tomography scan or magnetic resonance imaging should also be done for surveillance of the possible development of hepatocellular carcinoma.Keywords: tyrosinemia, management, NTBC, hepatocellular carcinoma

  18. Methodology for ranking restoration options

    Energy Technology Data Exchange (ETDEWEB)

    Hedemann Jensen, Per

    1999-04-01

    The work described in this report has been performed as a part of the RESTRAT Project FI4P-CT95-0021a (PL 950128) co-funded by the Nuclear Fission Safety Programme of the European Commission. The RESTRAT project has the overall objective of developing generic methodologies for ranking restoration techniques as a function of contamination and site characteristics. The project includes analyses of existing remediation methodologies and contaminated sites, and is structured in the following steps: characterisation of relevant contaminated sites; identification and characterisation of relevant restoration techniques; assessment of the radiological impact; development and application of a selection methodology for restoration options; formulation of generic conclusions and development of a manual. The project is intended to apply to situations in which sites with nuclear installations have been contaminated with radioactive materials as a result of the operation of these installations. The areas considered for remedial measures include contaminated land areas, rivers and sediments in rivers, lakes, and sea areas. Five contaminated European sites have been studied. Various remedial measures have been envisaged with respect to the optimisation of the protection of the populations being exposed to the radionuclides at the sites. Cost-benefit analysis and multi-attribute utility analysis have been applied for optimisation. Health, economic and social attributes have been included and weighting factors for the different attributes have been determined by the use of scaling constants. (au)

  19. Mental disabilities affect method options.

    Science.gov (United States)

    Best, K

    1999-01-01

    The provision of reproductive health services to people with psychiatric disturbances or mental retardation requires consideration of factors such as the nature of the disability, whether pregnancy would exacerbate the disturbance, the setting in which the person lives, their level of functioning, and their ability to understand the consequences of contraceptive decisions. Schizophrenic women have high rates of unintended pregnancy and are especially vulnerable to exacerbations of their disease in the postpartum period. Women who are depressed, anxious, or suffering from thought disorganization may be unable to use contraceptive methods such as the pill or condoms correctly. This article reviews issues associated with the provision of various contraceptive methods to, first, women with psychiatric conditions and, second, those with intellectual disabilities. It is important that reproductive health services for those with psychiatric disabilities or retardation are not coercive. Providers should be aware of the legal requirements for obtaining informed consent, including an explanation of benefits and risks, options, and a determination of whether the person is competent to understand the information.

  20. [Immunological treatment options for schizophrenia].

    Science.gov (United States)

    Müller, N; Krause, D; Weidinger, E; Schwarz, M

    2014-04-01

    The pathophysiological mechanism leading to dopaminergic dysfunction in schizophrenia is still unclear. Inflammation seems to play a key role. A dysfunction in the activation of the type 1 immune response is associated with decreased activity of the key enzyme of the tryptophan/kynurenine metabolism, indolamine-2.3-dioxygenase (IDO), results in a higher production of kynurenine acid (KYNA)--an N-methyl-D-aspartate antagonist--in the central nervous system (CNS) and decreased glutamatergic neurotransmission. The differential activation of microglial cells and astrocytes, which serve as immune cells in the CNS, contributes to the TH1-TH2 immune imbalance. Antipsychotics, all acting as dopamine D2 receptor antagonists show several shortcomings. The immune effects of antipsychotics rebalance partly the imbalance of the type-1/type-2 immune response and the overproduction of KYNA. The inflammation is associated with higher prostaglandin E2 (PGE2) production and higher cyclo-oxygenase-2 (COX-2) expression. Increasing evidence from clinical studies with COX-2 inhibitors points to an advantageous effect of anti-inflammatory therapy in schizophrenia, especially in the early stages of the disease. Further options of immunomodulatory therapy in schizophrenia are discussed. © Georg Thieme Verlag KG Stuttgart · New York.

  1. Real Options in Capital Budgeting. Pricing the Option to Delay and the Option to Abandon a Project

    Directory of Open Access Journals (Sweden)

    Nicoleta Vintila

    2007-07-01

    Full Text Available Traditional discounted cash-flows method for assessing projects assumes that investment decision is an irreversible one, which is not correct. Managers can and must reconsider their initial decision as the new information arises during the project life. This is managerial flexibility and it creates strategic value for a project, only if management takes advantage of the opportunities associated with an analyzed project. Real options represent a new approach in capital budgeting, using the theory of pricing financial options for investments in real assets. In this paper, we emphasize the characteristics and valuation methodologies of real options. The objective in the last section is pricing the option to delay and the option to abandon a project in construction materials field.

  2. [Surgical options in ulcerative colitis].

    Science.gov (United States)

    Hultén, L; Ecker, K W

    1998-01-01

    Surgery is needed in every second patient with pancolitis. Historically four surgical options have been developed: conventional ileostomy, ileorectostomy, continent ileostomy (Kock's pouch) and ileo-anal pouch. However, in emergent or unclear situations subtotal colectomy, ileostomy and preservation of the rectum is the most suitable operation. After recovery and in elective indications proctectomy and proctocolectomy establish the general surgical standard. Today, in most cases ileo-pouch-anal anastomosis is performed instead of creation of an ileostomy. Both lowered frequency of defecation and acceptable continence contribute to a better quality of life. However, functional disturbances are not uncommon and result in most cases from complications of the demanding technique. Definitive cure of the colitis is in interference with the risk of pouchitis in about 30%. The cumulative probability to loose the pouch may rise to 15-20% in the long-term course. Thus, ileorectostomy may be considered as a first step of surgical treatment, since pelvic nerve damage is excluded, function is much better and persistent proctitis can be treated topically. The attractively is that ileo-anal pouch can be performed later on, when decreasing function and increasing risk of malignant change will eventually require proctectomy. A Kock-pouch is seldom considered, especially in patients with ileostomy wishing sure fecal control. But the continent reservoir becomes more and more interesting again since it can be reconstructed from a failed ileo-anal pouch without loss of bowel. Conventional ileostomy should be reserved for patients not suitable for reconstructive methods or those who consider pough operations risk. However, it is the safest procedure with absolute cure of disease. The optimal choice of method considers medical and surgical aspects as well as patients conception and desire.

  3. 24 CFR 221.255 - Assignment option.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Assignment option. 221.255 Section... Assignment option. (a) A mortgagee holding a mortgage insured pursuant to a conditional or firm commitment..., directly to the Government National Mortgage Association (GNMA). Upon such assignment, transfer and...

  4. 24 CFR 221.770 - Assignment option.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Assignment option. 221.770 Section... § 221.770 Assignment option. A mortgagee holding a conditional or firm commitment issued on or before... securing it, directly to the Government National Mortgage Association (GNMA). Upon such assignment...

  5. Electric retail market options: The customer perspective

    Energy Technology Data Exchange (ETDEWEB)

    Hadley, S.W.; Hillsman, E.L.

    1995-07-01

    This report describes various options that are now available for retail electric customers, or that may become available during the next few years as the electric utility industry restructures. These options include different ways of meeting demand for energy services, different providers of service or points of contact with providers, and different pricing structures for purchased services. Purpose of this document is to examine these options from the customer`s perspective: how might being a retail electric customer in 5--10 years differ from now? Seizing opportunities to reduce cost of electric service is likely to entail working with different service providers; thus, transaction costs are involved. Some of the options considered are speculative. Some transitional options include relocation, customer-built/operated transmission lines, municipalization, self-generation, and long-term contracts with suppliers. All these may change or diminish in a restructured industry. Brokers seem likely to become more common unless restructuring takes the form of mandatory poolcos (wholesale). Some options appear robust, ie, they are likely to become more common regardless of how restructuring is accomplished: increased competition among energy carriers (gas vs electric), real-time pricing, etc. This report identified some of the qualitative differences among the various options. For customers using large amounts of electricity, different alternatives are likely to affect greatly service price, transaction costs, tailoring service to customer preferences, and risks for customer. For retail customers using small amounts of electricity, there may be little difference among the options except service price.

  6. Option-implied measures of equity risk

    DEFF Research Database (Denmark)

    Chang, Bo-Young; Christoffersen, Peter; Vainberg, Gregory;

    2012-01-01

    Equity risk measured by beta is of great interest to both academics and practitioners. Existing estimates of beta use historical returns. Many studies have found option-implied volatility to be a strong predictor of future realized volatility. We find that option-implied volatility and skewness a...... able to reflect sudden changes in the structure of the underlying company....

  7. Illiquidity Premia in the Equity Options Market

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Goyenko, Ruslan; Jacobs, Kris

    Illiquidity is well-known to be a significant determinant of stock and bond returns. We are the first to estimate illiquidity premia in equity option markets using effective spreads for a large cross-section of firms. The risk-adjusted return spread for illiquid over liquid options is 23 bps per ...

  8. New Commitment Options: Compatibility with Emissions Trading

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2006-07-01

    This paper considers different options for quantitative greenhouse gas emission commitments from the standpoint of their technical compatibility with emissions trading. These are dynamic targets, binding targets with price caps, non-binding targets, sector-wide targets/mechanisms, action targets, allowances and endowments, and long-term permits. This paper considers these options from the standpoint of their compatibility with emissions trading.

  9. Mission design options for human Mars missions

    Science.gov (United States)

    Wooster, Paul D.; Braun, Robert D.; Ahn, Jaemyung; Putnam, Zachary R.

    Trajectory options for conjunction-class human Mars missions are examined, including crewed Earth-Mars trajectories with the option for abort to Earth, with the intent of serving as a resource for mission designers. An analysis of the impact of Earth and Mars entry velocities on aeroassist systems is included, and constraints are suggested for interplanetary trajectories based upon aeroassist system capabilities.

  10. Putting Weather back into the Definition of Climate

    Science.gov (United States)

    Smith, L. A.; Stainforth, D. A.

    2012-04-01

    . It is argued that as models of the Earth System (and of its subsystems) gain skill, these challenges will become policy relevant. Statistically speaking, changes in the averages and variance of a distribution do not define the distribution, while the distribution does define its moments. This is the case even when the process of interest has no memory. The case for defining climate as a distribution is even stronger when, like in most earth system components, it displays significant decision-relevant correlations in time. (Consider, for instance, the series of events which lead to a "heat wave", or the dependence of droughts on a series of seasons with low rainfall.) It is interesting then that the American Meteorological Society's (AMS) definition of climate has moved from a focus on weather conditions "however they may be expressed" in 1959 toward the current AMS definition "in terms of suitable averages". It is suggested that a definition proposed by Lamb comes close to the mark and can be made mathematically precise so as to capture the essence of the American Meteorological Society's 1959 definition, while many of the definitions stated in this century might profitably be discarded.

  11. An explicit closed-form analytical solution for European options under the CGMY model

    Science.gov (United States)

    Chen, Wenting; Du, Meiyu; Xu, Xiang

    2017-01-01

    In this paper, we consider the analytical pricing of European path-independent options under the CGMY model, which is a particular type of pure jump Le´vy process, and agrees well with many observed properties of the real market data by allowing the diffusions and jumps to have both finite and infinite activity and variation. It is shown that, under this model, the option price is governed by a fractional partial differential equation (FPDE) with both the left-side and right-side spatial-fractional derivatives. In comparison to derivatives of integer order, fractional derivatives at a point not only involve properties of the function at that particular point, but also the information of the function in a certain subset of the entire domain of definition. This "globalness" of the fractional derivatives has added an additional degree of difficulty when either analytical methods or numerical solutions are attempted. Albeit difficult, we still have managed to derive an explicit closed-form analytical solution for European options under the CGMY model. Based on our solution, the asymptotic behaviors of the option price and the put-call parity under the CGMY model are further discussed. Practically, a reliable numerical evaluation technique for the current formula is proposed. With the numerical results, some analyses of impacts of four key parameters of the CGMY model on European option prices are also provided.

  12. Healthy option preferences of rural restaurant customers.

    Science.gov (United States)

    Nothwehr, Faryle; Snetselaar, Linda; Dawson, Jeffrey D; Hradek, Christine; Sepulveda, Marisol

    2010-11-01

    In preparation for an intervention study in three rural Iowa restaurants, 250 customers were surveyed regarding their interest in dietary change, perceptions of the restaurant, and interest in healthy options. Customers were ages 18 to 88, with a mean age of 52, and 53% were women. Most agreed that the restaurant offers healthy meals. Options customers stated they were most likely to order if available included meat that is baked or broiled, whole-wheat bread, fresh fruit or steamed vegetables, and regular salad dressing on the side. They were least interested in low-fat sour cream, low-fat salad dressing, low-fat milk, low-calorie dessert, and holding high-fat ingredients. Women were more likely to indicate interest in healthy options than were men. Interest in several options was also positively associated with age. Increasing the healthy options in restaurants may be especially effective in changing the dietary intake of women and older adults.

  13. Employee Share Option Scheme And Employees’ Motivation

    Directory of Open Access Journals (Sweden)

    Rebecca Yew Ming Yian

    2011-06-01

    Full Text Available Employee stock options scheme (ESOS is a call option on the ordinary share of a company, issued as a form of non-cash compensation or as an incentive tool. ESOS gives an employee the right to buy shares at a fixed price for a defined number of years into the future. The trend toward broad-based share options may come to an end as companies are scaling back due to the changes in accounting standards. Similarly, companies in Malaysia, especially in the banking industry which originally offered share options to their employees are now pulling back this scheme. Does the movement to scale back share options affect employees’ motivation? This is an empirical question which this paper intends to explore. It is hope that the commercial banks will reconsider offering ESOS in rewarding their employees if the research finding indicates that it plays a significant role in motivating employees.

  14. Cross-sectoral assessment of mitigation options

    DEFF Research Database (Denmark)

    Halsnæs, K.

    1997-01-01

    options and polity areas where there may be synergistic effects between climate change mitigation and national development objectives, The country study for Tanzania has identified forestry and land use activities and the agricultural sectors as some of the main drivers in the future growth of greenhouse...... gas emissions, Forestry, land use and agriculture are at the same time key economic and social development areas, This means that options leading to improved performance of these activities can reduce future greenhouse gas emissions and imply increasing welfare, A potential for win-win options has...... similarly been assessed in the country study for Zimbabwe, The options include in particular efficiency improvements in industrial plants and in the energy sector, A new methodological issue in the country study for Zimbabwe is the comparable assessment of greenhouse gas reductions options for multiple...

  15. Estimating the Optimum Number of Options per Item Using an Incremental Option Paradigm.

    Science.gov (United States)

    Trevisan, Michael S.; And Others

    1994-01-01

    The reliabilities of 2-, 3-, 4-, and 5-choice tests were compared through an incremental-option model on a test taken by 154 high school seniors. Creating the test forms incrementally more closely approximates actual test construction. The nonsignificant differences among the option choices support the three-option item. (SLD)

  16. Facilitating Description and Selection of Learning Paths: the learning path specification put to the test

    NARCIS (Netherlands)

    Janssen, José

    2008-01-01

    Jansen, J. (2008). Facilitating Description and Selection of Learning Paths: the learning path specification put to the test. Presentation at the Otec Colloquium. April, 2008, Heerlen, The Netherlands.

  17. The science of golf putting a complete guide for researchers, players and coaches

    CERN Document Server

    Dias, Gonçalo

    2015-01-01

    This SpringerBrief explores the motor performance and biomechanics of golf putting, providing methodologies, studies and approaches to this concept. Presenting outcomes of research published over the past six years, it offers guidelines from a scientifically oriented perspective, and employs new technologies and mathematical methods to assess golf putting. The chapters cover aspects such as pendulum-like motion in sports, setting up the experimental design, and performance metrics for putting variables. Paving the way for an improved understanding of what leads to failure and success in golf putting, this book offers an invaluable reference source for sports scientists, engineers and mathematicians, as well as golfers.

  18. Facilitating Description and Selection of Learning Paths: the learning path specification put to the test

    NARCIS (Netherlands)

    Janssen, José

    2008-01-01

    Jansen, J. (2008). Facilitating Description and Selection of Learning Paths: the learning path specification put to the test. Presentation at the Otec Colloquium. April, 2008, Heerlen, The Netherlands.

  19. Use of Bayesian Estimates to determine the Volatility Parameter Input in the Black-Scholes and Binomial Option Pricing Models

    Directory of Open Access Journals (Sweden)

    Shu Wing Ho

    2011-12-01

    Full Text Available The valuation of options and many other derivative instruments requires an estimation of exante or forward looking volatility. This paper adopts a Bayesian approach to estimate stock price volatility. We find evidence that overall Bayesian volatility estimates more closely approximate the implied volatility of stocks derived from traded call and put options prices compared to historical volatility estimates sourced from IVolatility.com (“IVolatility”. Our evidence suggests use of the Bayesian approach to estimate volatility can provide a more accurate measure of ex-ante stock price volatility and will be useful in the pricing of derivative securities where the implied stock price volatility cannot be observed.

  20. Teaching Magna Carta in American History: Land, Law, and Legacy

    Science.gov (United States)

    Saxe, David W.

    2010-01-01

    Magna Carta, that great cornerstone of American liberty, has been in the news lately. Put up for sale by three-time U.S. Presidential candidate Ross Perot in December 2007, the 1297 version of Magna Carta displayed in the National Archives was sold to financier David Rubenstein for $21.3 million. While its sale demonstrates the cash value of the…

  1. A History of American Music Education. Third Edition

    Science.gov (United States)

    Mark, Michael; Gary, Charles L.

    2007-01-01

    This book covers the history of American music education, from its roots in Biblical times through recent historical events and trends. It describes the educational, philosophical, educational, and sociological aspects of the subject, always putting it in the context of the history of the United States. It offers the most complete information on…

  2. Adapting American Policymaking to Overcome American Exceptionalism

    Science.gov (United States)

    2015-04-13

    missions, and of military operations spanning administrations. In conclusion, an apologist posture to defend American foreign policies is not called...military operations spanning administrations. In conclusion, an apologist posture to defend American foreign policies is not called for. However, a deep...and brings to light the tension between American ideals and American practices and policies. V/ hen exposed, this tension opens the door for American

  3. ACCOUNTING FOR OPTIONS AND ANALYSIS OF USE OF OPTION COMBINATION STRATEGIES

    Directory of Open Access Journals (Sweden)

    I. Derun

    2016-08-01

    Full Text Available The article deals with problems of accounting for options in Ukraine, namely: value expression of initial cost of options, their revaluation, accounting of premiums, financial assets and financial liabilities and variation margin. The paper offers ways of solution of these problems which based on harmonization with IAS 32, IAS 39, IFRS 7 and IFRS 9. The study considers option combination strategies (straddle, strangle, strap, strip and approaches of identification of possible financial results for investors which use these strategies. Examples of possible financial results are provided for buyers and sellers of options which use option combination strategies.

  4. Management options for recycling radioactive scrap metals

    Energy Technology Data Exchange (ETDEWEB)

    Dehmel, J.C.; MacKinney, J.; Bartlett, J.

    1997-02-01

    The feasibility and advantages of recycling radioactive scrap metals (RSM) have yet to be assessed, given the unique technical, regulatory, safety, and cost-benefit issues that have already been raised by a concerned recycling industry. As is known, this industry has been repeatedly involved with the accidental recycling of radioactive sources and, in some cases, with costly consequences. If recycling were deemed to be a viable option, it might have to be implemented with regulatory monitoring and controls. Its implementation may have to consider various and complex issues and address the requirements and concerns of distinctly different industries. There are three basic options for the recycling of such scraps. They are: (1) recycling through the existing network of metal-scrap dealers and brokers, (2) recycling directly and only with specific steelmills, or (3) recycling through regional processing centers. Under the first option, scrap dealers and brokers would receive material from RSM generators and determine at which steelmills such scraps would be recycled. For the second option, RSM generators would deal directly with selected steelmills under specific agreements. For the third option, generators would ship scraps only to regional centers for processing and shipment to participating steelmills. This paper addresses the potential advantages of each option, identifies the types of arrangements that would need to be secured among all parties, and attempts to assess the receptivity of the recycling industry to each option.

  5. A real options approach to biotechnology investment policy-the case of developing a Campylobacter vaccine to poultry.

    Science.gov (United States)

    Lund, Mogens; Jensen, Jørgen Dejgård

    2016-06-01

    The aim of the article is to identify and analyse public-private incentives for the development and marketing of new animal vaccines within a real options methodological framework, and to investigate how real options methodology can be utilized to support economic incentives for vaccine development in a cost-effective way. The development of a vaccine against Campylobacter jejuni in poultry is applied as a case study. Employing the real options methodology, the net present value of the vaccine R&D project becomes larger than a purely probabilistic expected present value throughout the different stages of the project - and the net present value becomes larger, when more types of real options are taken into consideration. The insight from the real options analysis reveals opportunities for new policies to promote the development of animal vaccines. One such approach might be to develop schemes combining stage-by-stage optimized subsidies in the individual development stages, with proper account taken of investors'/developers' economic incentives to proceed, sell or cancel the project in the respective stages. Another way of using the real options approach to support the development of desirable animal vaccines could be to issue put options for the vaccine candidate, enabling vaccine developers to hedge against the economic risk from market volatility.

  6. Assessing the Option to Abandon an Investment Project by the Binomial Options Pricing Model

    Directory of Open Access Journals (Sweden)

    Salvador Cruz Rambaud

    2016-01-01

    Full Text Available Usually, traditional methods for investment project appraisal such as the net present value (hereinafter NPV do not incorporate in their values the operational flexibility offered by including a real option included in the project. In this paper, real options, and more specifically the option to abandon, are analysed as a complement to cash flow sequence which quantifies the project. In this way, by considering the existing analogy with financial options, a mathematical expression is derived by using the binomial options pricing model. This methodology provides the value of the option to abandon the project within one, two, and in general n periods. Therefore, this paper aims to be a useful tool in determining the value of the option to abandon according to its residual value, thus making easier the control of the uncertainty element within the project.

  7. Teaching a Class in English in Japan: Lessons from Putting an American Style of Teaching into Practice

    OpenAIRE

    伊藤, 大将

    2016-01-01

    As part of internationalization, Japanese universities encourage the faculty members to teach classes in English. To assist Japanese professors who are not confident in teaching English, the universities held faculty development activities. Although some authors reported these faculty development activities, their main focus was on English skills, and few addressed how to teach a class effectively with active learning in mind. This paper describes the challenges the author faced while tea...

  8. Option pricing, Bayes risks and Applications

    OpenAIRE

    Yatracos, Yannis G.

    2013-01-01

    A statistical decision problem is hidden in the core of option pricing. A simple form for the price C of a European call option is obtained via the minimum Bayes risk, R_B, of a 2-parameter estimation problem, thus justifying calling C Bayes (B-)price. The result provides new insight in option pricing, among others obtaining C for some stock-price models using the underlying probability instead of the risk neutral probability and giving R_B an economic interpretation. When logarithmic stock p...

  9. 43 CFR 2.84 - What information must I put in my Touhy Request?

    Science.gov (United States)

    2010-10-01

    ... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false What information must I put in my Touhy Request? 2.84 Section 2.84 Public Lands: Interior Office of the Secretary of the Interior RECORDS AND... Responsibilities of Requesters § 2.84 What information must I put in my Touhy Request? Your Touhy Request must:...

  10. 47 CFR 95.408 - (CB Rule 8) How high may I put my antenna?

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 5 2010-10-01 2010-10-01 false (CB Rule 8) How high may I put my antenna? 95.408 Section 95.408 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) SAFETY AND SPECIAL....408 (CB Rule 8) How high may I put my antenna? (a) Antenna means the radiating system...

  11. Muscular power, neuromuscular activation, and performance in shot put athletes at preseason and at competition period.

    Science.gov (United States)

    Kyriazis, Thomas A; Terzis, Gerasimos; Boudolos, Konstantinos; Georgiadis, Georgios

    2009-09-01

    The aim of this study was to investigate changes in shot put performance, muscular power, and neuromuscular activation of the lower extremities, between the preseason and the competition period, in skilled shot put athletes using the rotational technique. Shot put performance was assessed at the start of the pre-season period as well as after 12 weeks, at the competition period, in nine shot putters. Electromyographic (EMG) activity of the right vastus lateralis muscle was recorded during all shot put trials. Maximum squat strength (1RM) and mechanical parameters during the countermovement jump (CMJ) on a force platform were also determined at pre-season and at competition period. Shot put performance increased 4.7% (p put performance was significantly related with muscular power and takeoff velocity during the CMJ, at competition period (r = 0.66, p put performance. These results suggest that muscular power of the lower extremities is a better predictor of rotational shot put performance than absolute muscular strength in skilled athletes, at least during the competition period.

  12. 41 CFR 102-33.105 - What special requirements must we put into our CAS contracts?

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false What special requirements must we put into our CAS contracts? 102-33.105 Section 102-33.105 Public Contracts and Property... to Acquire Government Aircraft § 102-33.105 What special requirements must we put into our...

  13. 14 CFR 11.43 - What information must I put in my written comments?

    Science.gov (United States)

    2010-01-01

    ... 14 Aeronautics and Space 1 2010-01-01 2010-01-01 false What information must I put in my written comments? 11.43 Section 11.43 Aeronautics and Space FEDERAL AVIATION ADMINISTRATION, DEPARTMENT OF... information must I put in my written comments? (a) Your written comments must be in English and must...

  14. 36 CFR 1012.5 - What information must I put in my Touhy Request?

    Science.gov (United States)

    2010-07-01

    ... 36 Parks, Forests, and Public Property 3 2010-07-01 2010-07-01 false What information must I put in my Touhy Request? 1012.5 Section 1012.5 Parks, Forests, and Public Property PRESIDIO TRUST LEGAL... information must I put in my Touhy Request? Your Touhy Request must: (a) Identify the employee or record;...

  15. Presidentialism: Is It a Better Option for Turkey?

    Directory of Open Access Journals (Sweden)

    Eyup Aygun

    2016-02-01

    Full Text Available The role of the government model in the performance of the governments and in the sustainability of the democratic regime is a controversial issue. Parliamentary and presidential systems are often compared in that respect. Turkish academic and political circles have been discussing whether or not presidentialism is a viable option that would resolve the deep-rooted problems of Turkish political system for the past three decades. Although, there are different subtypes of presidential systems, the debate in Turkey focuses on the American presidential system. This article discusses strengths and weaknesses of the presidential system and assesses its viability in Turkey by listing some potential difficulties in case such a radical systemic change is accepted.

  16. Presidentialism: Is It a Better Option for Turkey?

    Directory of Open Access Journals (Sweden)

    Eyup AYGUN

    2014-05-01

    Full Text Available The role of the government model in the performance of the governments and in the sustainability of the democratic regime is a controversial issue. Parliamentary and presidential systems are often compared in that respect. Turkish academic and political circles have been discussing whether or not presidentialism is a viable option that would resolve the deep-rooted problems of Turkish political system for the past three decades. Although, there are different subtypes of presidential systems, the debate in Turkey focuses on the American presidential system. This article discusses strengths and weaknesses of the presidential system and assesses its viability in Turkey by listing some potential difficulties in case such a radical systemic change is accepted.

  17. New Options of Apheresis in Renal Diseases: How and When?

    Science.gov (United States)

    Korsak, Jolanta; Wańkowicz, Zofia

    2016-01-01

    The 100-year anniversary of the first experimental apheresis performed by John Abel on uremic dogs in 1914 provides the opportunity for discussion on the current state of classic apheresis as well as technological progress and clinical experiences with its new options presented in the world literature in the last 15 years, such as the following: double filtration, plasma adsorption and immunoadsorption, leuko- and cytapheresis and low-density lipoprotein apheresis. In our review, we highlight the potential limitations for further development of those highly promising techniques, such as the following: the lack of multicenter, controlled clinical studies; insufficient knowledge of the mechanisms of those techniques and last but not least, the restricted access to apheresis, caused both by high expenditure and organizational negligence, even in highly developed countries. Special attention was paid to the most recent recommendations by the American Society of Apheresis in primary and secondary renal diseases, which are the subject of our professional interest.

  18. Relation of eye dominance with performance and subjective ratings in golf putting.

    Science.gov (United States)

    Sugiyama, Yoshio; Lee, Mi-Sook

    2005-06-01

    Previous research has discussed the interaction of hand preference, eye dominance, and sport performance. In this study, the relation of eye dominance with performance and subjective ratings in golf putting was investigated. 47 right-handed Japanese students from a college of physical education putted 10 balls to a drawn circle 3 m away, each under right-handed and left-handed stance conditions. Putting performance was measured by the number of successful putts. After putting in each condition, they rated subjective visibility and feelings of hitting. Analyses indicated that right-eyed subjects had significantly better performance using the right-handed stance than the left-handed stance, whereas left-eyed subjects showed the opposite. Most subjective ratings were more positive with right-handed stance for both right-eyed and left-eyed subjects. These findings suggest that eye dominance could have some influence on putting performance of Japanese novice golfers.

  19. Asian American dating: important factors in partner choice.

    Science.gov (United States)

    Mok, T A

    1999-05-01

    The majority of research on romantic relationships has tended to focus on marriage, with relatively less attention paid to dating. This study examined the relationship between Asian American dating, both interracial and intraracial, and a variety of factors thought to be associated with dating in this population, including acculturation, ethnic identity, attractiveness, interracial dating experience, ethnicity of friends, parental influence over dating, and density. Participants were administered measures of these variables and were asked questions regarding their likelihood of dating both Asian Americans and White Americans. An interesting pattern of results emerged when the variables were put into regression equations to predict both interracial and intraracial dating. Findings are presented and implications discussed.

  20. Breast fibromatosis response to tamoxifen: dynamic MRI findings and review of the current treatment options.

    Science.gov (United States)

    Plaza, Michael J; Yepes, Monica

    2012-03-01

    Breast fibromatosis is a rare entity responsible for 0.2% of all solid breast tumors. It has been associated with scars, pregnancy, implants, and familial adenomatous polyposis. We present an interesting case of breast fibromatosis in a 29 year old woman which encroached upon her saline implant and subsequently filled its cavity once the implant was removed. The patient was put on tamoxifen therapy and at 14 month follow-up there was a significant decrease in the size of the mass. Dynamic MRI images are offered for review and current treatment options are discussed.

  1. Essay on Option Pricing, Hedging and Calibration

    DEFF Research Database (Denmark)

    da Silva Ribeiro, André Manuel

    Quantitative finance is concerned about applying mathematics to financial markets.This thesis is a collection of essays that study different problems in this field: How efficient are option price approximations to calibrate a stochastic volatilitymodel? (Chapter 2) How different is the discretely...... sampled realized variance from the continuouslysampled realized variance? (Chapter 3) How can we do static hedging for a payoff with two assets? (Chapter 4) Can we apply fast Fourier Transform methods to efficiently use interest rateMarkov-functional models? Can we extend them to accommodate othertypes...... stochastic volatility model gives stable, accurate, and fast results for S&P500-index option data over the period 2005 to 2009. Discretely Sampled Variance Options: A Stochastic Approximation Approach In this paper, we expand Drimus and Farkas (2012) framework to price variance options on discretely sampled...

  2. First metatarsophalangeal joint arthrodesis: current fixation options.

    Science.gov (United States)

    Moon, Jared L; McGlamry, Michael C

    2011-04-01

    This article reviews the current literature on first metatarsophalangeal joint arthrodesis rates using various forms of fixation, as well as reviewing biomechanical studies comparing the strengths of the different fixation options that are available.

  3. How to Find Gluten-Free Options

    Science.gov (United States)

    ... Men For Women For Seniors How to Find Gluten-Free Options Reviewed by Sharon Denny, MS, RDN ... Email Digital Vision/DigitalVision/Thinkstock When considering a gluten-free diet, it is not necessary to avoid ...

  4. Treatment Options by Stage (Uterine Sarcoma)

    Science.gov (United States)

    ... Cancer Prevention Endometrial Cancer Screening Research Uterine Sarcoma Treatment (PDQ®)–Patient Version General Information About Uterine Sarcoma ... Certain factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment ...

  5. Treatment Options by Stage (Vaginal Cancer)

    Science.gov (United States)

    ... Health Professional Vaginal Cancer Treatment Research Vaginal Cancer Treatment (PDQ®)–Patient Version General Information About Vaginal Cancer ... Certain factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) depends on ...

  6. Treatment Options by Stage (Esophageal Cancer)

    Science.gov (United States)

    ... Cancer Prevention Esophageal Cancer Screening Research Esophageal Cancer Treatment (PDQ®)–Patient Version General Information About Esophageal Cancer ... Certain factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment ...

  7. Treatment Options by Stage (Salivary Gland Cancer)

    Science.gov (United States)

    ... and Oropharyngeal Cancer Screening Research Salivary Gland Cancer Treatment (PDQ®)–Patient Version General Information About Salivary Gland ... in diagnosing salivary gland cancer. Certain factors affect treatment options and prognosis (chance of recovery). The treatment ...

  8. Treatment Options by Stage (Gastric Cancer)

    Science.gov (United States)

    ... Cancer Prevention Stomach Cancer Screening Research Gastric Cancer Treatment (PDQ®)–Patient Version General Information About Gastric Cancer ... Certain factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment ...

  9. Treatment Options by Stage (Merkel Cell Carcinoma)

    Science.gov (United States)

    ... Cancer Skin Cancer Screening Research Merkel Cell Carcinoma Treatment (PDQ®)–Patient Version General Information About Merkel Cell ... Certain factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment ...

  10. Treatment Option Overview (Adult Soft Tissue Sarcoma)

    Science.gov (United States)

    ... Vascular Tumors Treatment Research Adult Soft Tissue Sarcoma Treatment (PDQ®)–Patient Version General Information About Adult Soft ... dye reacts to the light. Certain factors affect treatment options and prognosis (chance of recovery). The treatment ...

  11. Treatment Option Overview (Extragonadal Germ Cell Tumors)

    Science.gov (United States)

    ... Germ Cell Tumors Treatment Extragonadal Germ Cell Tumors Treatment (PDQ®)–Patient Version General Information About Extragonadal Germ ... Certain factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment ...

  12. Treatment Options for Thymoma and Thymic Carcinoma

    Science.gov (United States)

    ... Thymoma & Thymic Carcinoma Treatment Thymoma and Thymic Carcinoma Treatment (PDQ®)–Patient Version General Information About Thymoma and ... Certain factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment ...

  13. Treatment Options (by Stage) for Colon Cancer

    Science.gov (United States)

    ... Colorectal Cancer Colorectal Cancer Screening Research Colon Cancer Treatment (PDQ®)–Patient Version General Information About Colon Cancer ... Certain factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment ...

  14. Treatment Options for Adult Soft Tissue Sarcoma

    Science.gov (United States)

    ... Vascular Tumors Treatment Research Adult Soft Tissue Sarcoma Treatment (PDQ®)–Patient Version General Information About Adult Soft ... dye reacts to the light. Certain factors affect treatment options and prognosis (chance of recovery). The treatment ...

  15. Compound Option Pricing under Fuzzy Environment

    Directory of Open Access Journals (Sweden)

    Xiandong Wang

    2014-01-01

    Full Text Available Considering the uncertainty of a financial market includes two aspects: risk and vagueness; in this paper, fuzzy sets theory is applied to model the imprecise input parameters (interest rate and volatility. We present the fuzzy price of compound option by fuzzing the interest and volatility in Geske’s compound option pricing formula. For each α, the α-level set of fuzzy prices is obtained according to the fuzzy arithmetics and the definition of fuzzy-valued function. We apply a defuzzification method based on crisp possibilistic mean values of the fuzzy interest rate and fuzzy volatility to obtain the crisp possibilistic mean value of compound option price. Finally, we present a numerical analysis to illustrate the compound option pricing under fuzzy environment.

  16. Observation option toolkit for acute otitis media.

    Science.gov (United States)

    Rosenfeld, R M

    2001-04-01

    The observation option for acute otitis media (AOM) refers to deferring antibiotic treatment of selected children for up to 3 days, during which time management is limited to analgesics and symptomatic relief. With appropriate follow-up complications are not increased, and clinical outcomes compare favorably with routine initial antibiotic therapy. Although used commonly in the Netherlands and certain Scandinavian countries, this approach has not gained wide acceptance in Europe and the United States. This article describes an evidence-based toolkit developed by the New York Region Otitis Project for judicious use of the observation option. The toolkit is not intended to endorse the observation option as a preferred method of management, nor is it intended as a rigid practice guideline to supplant clinician judgement. Rather, it presents busy clinicians with the tools needed to implement the observation option in everyday patient care should they so desire.

  17. TECHNOLOGICAL OPTIONS FOR ACID RAIN CONTROL

    Science.gov (United States)

    Discussed are acid rain control options available to the electric utility industry. They include coal switching, flue gas desulfurization, and such emerging lower cost technologies as Limestone Injection Multistage Burners (LIMB) and Advanced Silicate (ADVACATE), both developed ...

  18. Synthesis of Adaptation Options for Coastal Areas

    Science.gov (United States)

    Adaptation can help reduce the long-term costs associated with climate change. This document provides an introduction to climate change impacts and adaptation options for estuaries, beaches and coastal areas.

  19. TECHNOLOGICAL OPTIONS FOR ACID RAIN CONTROL

    Science.gov (United States)

    Discussed are acid rain control options available to the electric utility industry. They include coal switching, flue gas desulfurization, and such emerging lower cost technologies as Limestone Injection Multistage Burners (LIMB) and Advanced Silicate (ADVACATE), both developed ...

  20. 26 CFR 1.422-2 - Incentive stock options defined.

    Science.gov (United States)

    2010-04-01

    ... option defined—(1) In general. The term incentive stock option means an option that meets the requirements of paragraph (a)(2) of this section on the date of grant. An incentive stock option is also subject to the $100,000 limitation described in § 1.422-4. An incentive stock option may contain a...

  1. Tracking Models for Optioned Portfolio Selection

    Science.gov (United States)

    Liang, Jianfeng

    In this paper we study a target tracking problem for the portfolio selection involving options. In particular, the portfolio in question contains a stock index and some European style options on the index. A refined tracking-error-variance methodology is adopted to formulate this problem as a multi-stage optimization model. We derive the optimal solutions based on stochastic programming and optimality conditions. Attention is paid to the structure of the optimal payoff function, which is shown to possess rich properties.

  2. THE REAL OPTIONS OF CAPITAL BUDGET

    Directory of Open Access Journals (Sweden)

    Antonio Lopo Martins

    2008-07-01

    Full Text Available The traditional techniques of capital budget, as the deducted cash flow and the net value present, do not incorporate existing flexibilities in an investment project, they tend to distort the value of certain investments, mainly those that are considered in scenes of uncertainty and risk. Therefore, this study intends to demonstrate that the Real Options Theory (TOR is a useful methodology to evaluate and to indicate the best option for project of expansion investment. To reach the considered objective the procedure method was used a case study, having as unit of case the Resort Praia Hotel do Litoral Norte of Salvador. This study was developed of the following form: first it identified the traditional net value present and later it was incorporated the volatileness of each analyzed uncertainty. Second, as the real options are analogous to the financial options, it was necessary to identify elements that composed the terminologies of the financial options with intention to get the value of the real option. For this model of options pricing of Black & Scholes jointly with a computational simulator was used (SLS to get the expanded net value present. As a result of this study it was possible to evidence that using the traditional tool of capital budget Net Value Present (VPL is negative, therefore the project of expansion of the Hotel would be rejected. While for the application of methodology TOR the project presents positive Expanded Present Value which would represent an excellent chance of investment. Key-word: Capital budget, Real options, Analysis of investments.

  3. Stock Option Compensation and Managerial Turnover

    OpenAIRE

    Raluca Georgiana NASTASESCU

    2009-01-01

    This study examines the association between managerial turnover and equity-based compensation. I investigate whether stock options act to bond executives to their firms and whether retention of managers is a motivation of companies in designing CEO incentive contracts. The results show that stock options do negatively influence the probability of a CEO leaving the company. The monetary cost of losing the value of equity-based compensation package keeps the manager with his company. I also fin...

  4. Cournot Competition, Financial Option Markets, and Efficiency

    OpenAIRE

    Willems, Bert

    2005-01-01

    Allaz and Vila (1993) show that the existence of futures markets increases the efficiency of markets in a Cournot setting. This paper looks at the efficiency effect of financial options in a similar framework. It shows that the existence of financial options also makes markets more efficient; though to a smaller extent than futures. This is particularly relevant for markets with market power and costly storage, like electricity markets.

  5. Does “Tiger Parenting” Exist? Parenting Profiles of Chinese Americans and Adolescent Developmental Outcomes

    OpenAIRE

    Kim, Su Yeong; Wang, Yijie; Orozco-Lapray, Diana; Shen, Yishan; Murtuza, Mohammed

    2012-01-01

    “Tiger parenting,” as described by Chua (2011), has put parenting in Asian American families in the spotlight. The current study identified parenting profiles in Chinese American families and explored their effects on adolescent adjustment. In a three-wave longitudinal design spanning eight years, from early adolescence to emerging adulthood, adolescents (54% female), fathers and mothers from 444 Chinese American families reported on eight parenting dimensions (e.g., warmth and shaming) and s...

  6. Asian/American Bodies in Extremis: Gendering Power, Pleasure, and Nation through "Spectacular" Excess

    OpenAIRE

    Knoll, Melissa Garcia

    2012-01-01

    As a cross-genre study, this project centralizes performances of physical excess, putting genre theory in conversation with Asian/American critical race discourses to articulate the specific knowledges produced by film, stand-up comedy, theatre, and sports. Considering figures such as Annabel Chong, Margaret Cho, and Manny Pacquiao from within the discourses of gender and nation, I investigate how the Asian/American body in extremis speaks and is spoken, and how Asian/American subjects use b...

  7. Does “Tiger Parenting” Exist? Parenting Profiles of Chinese Americans and Adolescent Developmental Outcomes

    OpenAIRE

    Kim, Su Yeong; Wang, Yijie; Orozco-Lapray, Diana; Shen, Yishan; Murtuza, Mohammed

    2012-01-01

    “Tiger parenting,” as described by Chua (2011), has put parenting in Asian American families in the spotlight. The current study identified parenting profiles in Chinese American families and explored their effects on adolescent adjustment. In a three-wave longitudinal design spanning eight years, from early adolescence to emerging adulthood, adolescents (54% female), fathers and mothers from 444 Chinese American families reported on eight parenting dimensions (e.g., warmth and shaming) and s...

  8. 对股票期权激励机制的冷思考%Reconsidering the Motivation Mechanism of Stock Option in China

    Institute of Scientific and Technical Information of China (English)

    陈伟民

    2001-01-01

    In this paper, firstly, we discuss the positive role and the negate role played by stock option. Secondly, we make an effort to analyze the institutional environment of putting stock option into practice in China. At last, we conclude that now it is premature to put stock option into practice widely.%本文首先讨论了股票期权的积极作用及可能产生的消极影响,在此基础上,重点分析了目前我国实施股票期权所面临的制度环境,最后的结论是,目前我国并不具备实行股票期权的成熟条件,股票期权在我国的广泛实施不能一蹴而就。

  9. Coal-Mine Liquidation as a Strategic Managerial Decision: a Decision-Making Model Based on the Options Approach / Likwidacja Kopalni Jako Strategiczna Decyzja Menedżerska: Model Decyzyjny Z Wykorzystaniem Podejścia Opcyjnego

    Science.gov (United States)

    Jewartowski, Tomasz; Mizerka, Jacek; Mróz, Cezary

    2015-09-01

    The aim of this paper is to determine the optimal time of coal mine liquidation given the necessity of bearing the costs of post-mining reclamation. In order to consider the volatility of parameters important for making a liquidation decision and the entrepreneur's flexibility in the decision-making process, the real options approach was applied. Mine liquidation, which is inextricably linked to post-mining reclamation, is examined as an American put option on the market value of continuing the mine's operation which plays the role of the underlying asset. In turn, the role of the exercise price is played by expenditures for mine liquidation and post-mining reclamation, which can be avoided if the decision to close the mine is taken before all the deposits are exhausted. The liquidation option is exercised when the value of liquidation and reclamation cost savings significantly exceeds the continuation value. Mine liquidation was additionally made conditional on the value of funds accumulated to finance post-mining reclamation. Artykuł dotyczy ustalenia optymalnego momentu likwidacji kopalni w związku z koniecznością ponoszenia kosztów rekultywacji gruntów pokopalnianych. W celu uwzględnienia zmienności wartości parametrów istotnych dla podjęcia decyzji o likwidacji oraz elastyczności w podejmowaniu decyzji przez przedsiębiorcę, wykorzystano podejście opcyjne. Likwidację kopalni, która jest nierozłącznie związana z rekultywacją terenów pokopalnianych, rozpatruje się jako amerykańską opcję sprzedaży (put) wystawioną na rynkową wartość kontynuacji działalności kopalni pełniącą rolę instrumentu bazowego. Z kolei rolę ceny wykonania odgrywają nakłady na likwidację kopalni i rekultywację terenów pokopalnianych, poniesienia których można uniknąć, gdy decyzja o wstrzymaniu eksploatacji zapadnie przed wyczerpaniem się złoża. Opcja likwidacji jest wykonywana, gdy kwota nakładów na likwidację i rekultywację znacz

  10. Evaluation of Cloud Computing Hidden Benefits by Using Real Options Analysis

    Directory of Open Access Journals (Sweden)

    Pavel Náplava

    2016-12-01

    Full Text Available Cloud computing technologies have brought new attributes to the IT world. One of them is a flexibility of IT resources. It enables effectively both to downsize and upsize the capacity of IT resources in real time. Requirements for IT size change defines business strategy and actual market state. IT costs are not stable but dynamic in this case. Standard investment valuation methods (both static and dynamic are not able to include the flexibility attribute to the evaluation of IT projects. This article describes the application of the Real Options Analysis method for the valuation of the cloud computing flexibility. The method compares costs of the on-premise and cloud computing solutions by combining put and call option valuation. Cloud computing providers can use the method as an advanced tool that explains hidden benefits of cloud computing. Unexperienced cloud computing customers can simulate the market behavior and better plan necessary IT investments.

  11. HISTORICAL AND IMPLIED VOLATILITY: AN INVESTIGATION INTO NSE NIFTY FUTURES AND OPTIONS

    Directory of Open Access Journals (Sweden)

    N R Parasuraman

    2011-10-01

    Full Text Available The broad objective of the paper is to have an understanding of the movement of volatility over a fair period in respect of the market portfolio. Also, it enables an understanding on how divergent the implied volatility has been from this estimate. It uses Volatility Cone, Volatility Smile and Volatility Surface as the parameters. The study takes different rolling periods percentiles of volatility. Hoadley Options Calculator is used for calculation and analysis purpose. The study empirically proves that there is a clear reversion to the mean as indicated by the volatility cone. The study of volatility smiles in respect of NIFTY options throws up different patterns. The Garch (1.1 model reveals that historical volatility for the period from 2004 to 2004 and for the year 2009 were estimated. Interestingly, but not totally surprisingly, the average implied volatility of calls and puts on Nifty during the period January to March 2010 showed differences.

  12. The Probabilistic Efficiency Frontier: A Framework for Cost-Effectiveness Analysis in Germany Put into Practice for Hepatitis C Treatment Options.

    Science.gov (United States)

    Mühlbacher, Axel C; Sadler, Andrew

    2017-02-01

    The German Institute for Quality and Efficiency in Health Care (Institut für Qualität und Wirtschaftlichkeit im Gesundheitswesen) adapted the efficiency frontier (EF) approach to conform to statutory provisions on cost-effectiveness analysis of health technologies. EF serves as a framework for evaluating cost-effectiveness and indirectly for pricing and reimbursement decisions. To calculate an EF on the basis of single multidimensional benefit by taking patient preferences and uncertainty into account; to evaluate whether EF is useful to inform decision makers about cost-effectiveness of new therapies; and to find whether a treatment is efficient at given prices demonstrated through a case study on chronic hepatitis C. A single multidimensional benefit was calculated by linear additive aggregation of multiple patient-relevant end points. End points were identified and weighted by patients in a previous discrete-choice experiment (DCE). Aggregation of overall benefit was ascertained using preferences and clinical data. Monte-Carlo simulation was applied. Uncertainty was addressed by price acceptability curve (PAC) and net monetary benefit (NMB). The case study illustrates that progress in benefit and efficiency of hepatitis C virus treatments could be depicted very well with the EF. On the basis of cost, effect, and preference data, the latest generations of interferon-free treatments are shown to yield a positive NMB and be efficient at current prices. EF was implemented taking uncertainty into account. For the first time, a DCE was used with the EF. The study shows how DCEs in combination with EF, PAC, and NMB can contribute important information in the course of reimbursement and pricing decisions. Copyright © 2017 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  13. FUTURES OPTIONS: UNIVERSE OF POTENTIAL PROFIT

    Directory of Open Access Journals (Sweden)

    Teselios Delia

    2013-04-01

    Full Text Available A approaching options on futures contracts in the present paper is argued, on one hand, by the great number of their directions for use (in financial speculation, in managing and risk control, etc. and, on the other hand, by the fact that in Romania, nowadays, futures contracts and options represent the main categories of traded financial instruments. Because futures contract, as an underlying asset for options, it is often more liquid and involves more reduced transaction costs than cash product which corresponds to that futures contract, this paper presents a number of information regarding options on futures contracts, which offer a wide range of investment opportunities, being used to protect against adverse price moves in commodity, interest rate, foreign exchange and equity markets. There are presented two assessment models of these contracts, namely: an expansion of the Black_Scholes model published in 1976 by Fischer Black and the binomial model used especially for its flexibility. Likewise, there are presented a series of operations that can be performed using futures options and also arguments in favor of using these types of options.

  14. Pricing European Options in Realistic Markets

    CERN Document Server

    Schaden, M

    2002-01-01

    We investigate the relation between the fair price for European-style vanilla options and the distribution of short-term returns on the underlying asset ignoring transaction and other costs. We compute the risk-neutral probability density conditional on the total variance of the asset's returns when the option expires. If the asset's future price has finite expectation, the option's fair value satisfies a parabolic partial differential equation of the Black-Scholes type in which the variance of the asset's returns rather than a trading time is the evolution parameter. By immunizing the portfolio against large-scale price fluctuations of the asset, the valuation of options is extended to the realistic case\\cite{St99} of assets whose short-term returns have finite variance but very large, or even infinite, higher moments. A dynamic Delta-hedged portfolio that is statically insured against exceptionally large fluctuations includes at least two different options on the asset. The fair value of an option in this c...

  15. Interest Convergence or Divergence? A Critical Race Analysis of Asian Americans, Meritocracy, and Critical Mass in the Affirmative Action Debate

    Science.gov (United States)

    Park, Julie J.; Liu, Amy

    2014-01-01

    We use the Critical Race Theory frameworks of interest convergence and divergence to critique the anti-affirmative action movement's co-option of Asian Americans. Past discussions of affirmative action and Asian Americans mainly concentrate on how Asian Americans are affected by affirmative action, whether positively or negatively. We demonstrate…

  16. Native Americans with Diabetes

    Science.gov (United States)

    ... Read the MMWR Science Clips Native Americans with Diabetes Better diabetes care can decrease kidney failure Language: ... between 1996 and 2013. Problem Kidney failure from diabetes was highest among Native Americans. Native Americans are ...

  17. Obesity and African Americans

    Science.gov (United States)

    ... Data > Minority Population Profiles > Black/African American > Obesity Obesity and African Americans African American women have the ... ss6304.pdf [PDF | 3.38MB] HEALTH IMPACT OF OBESITY More than 80 percent of people with type ...

  18. An Efficient Method for Solving Spread Option Pricing Problem: Numerical Analysis and Computing

    Directory of Open Access Journals (Sweden)

    R. Company

    2016-01-01

    Full Text Available This paper deals with numerical analysis and computing of spread option pricing problem described by a two-spatial variables partial differential equation. Both European and American cases are treated. Taking advantage of a cross derivative removing technique, an explicit difference scheme is developed retaining the benefits of the one-dimensional finite difference method, preserving positivity, accuracy, and computational time efficiency. Numerical results illustrate the interest of the approach.

  19. Acute effects of countermovement jumping and sprinting on shot put performance.

    Science.gov (United States)

    Terzis, Gerasimos; Karampatsos, Giorgos; Kyriazis, Thomas; Kavouras, Stavros A; Georgiadis, Giorgos

    2012-03-01

    The purpose of this study was to investigate the acute effects of countermovement jumping and sprinting on shot put performance in experienced shot putters. Ten shot putters (best performance 13.16-20.36 m) participated in the study. After a standard warm-up including jogging, stretching, and 4-6 submaximal puts, they performed 3 shot put attempts with maximum effort, separated with 1.5-minute interval. Three minutes later, they performed 3 maximal consecutive countermovement jumps (CMJs). Immediately after jumping, they performed 3 shot put attempts with maximum effort, separated with a 1.5-minute interval. One week later, they carried out a similar protocol, at similar external conditions, but they performed a bout of 20-m sprinting instead of the CMJs, to potentiate shot put performance. Muscular strength (1 repetition maximum in squat, snatch, bench press, incline bench press) and body composition (dual x-ray absorptiometry) were measured during the same training period (±10 days from the jumping and sprinting protocols). Shot put performance was significantly increased after the CMJs (15.45 ± 2.36 vs. 15.85 ± 2.41 m, p = 0.0003). Similarly, shot put performance was significantly increased after sprinting (15.34 ± 2.41 vs. 15.90 ± 2.46 m, p = 0.0007). The increase in performance after sprinting was significantly higher compared with the increase after jumping (2.64 ± 1.59 vs. 3.74 ± 1.88%, p = 0.02). In conclusion, the results of this study indicate that a standard warm-up protocol followed by 3 maximal bouts of shot put and either 3 consecutive countermovement jumps or a bout of 20-m sprinting induce an acute increase in shot put performance in experienced shot putters.

  20. Design Options for Multimodal Web Applications

    Science.gov (United States)

    Stanciulescu, Adrian; Vanderdonckt, Jean

    The capabilities of multimodal applications running on the web are well de-lineated since they are mainly constrained by what their underlying standard mark up language offers, as opposed to hand-made multimodal applications. As the experience in developing such multimodal web applications is growing, the need arises to identify and define major design options of such application to pave the way to a structured development life cycle. This paper provides a design space of independent design options for multimodal web applications based on three types of modalities: graphical, vocal, tactile, and combined. On the one hand, these design options may provide designers with some explicit guidance on what to decide or not for their future user interface, while exploring various design alternatives. On the other hand, these design options have been implemented as graph transformations per-formed on a user interface model represented as a graph. Thanks to a transformation engine, it allows designers to play with the different values of each design option, to preview the results of the transformation, and to obtain the corresponding code on-demand

  1. Novas opções na terapia insulínica New options in insulin therapy

    Directory of Open Access Journals (Sweden)

    Helena Schmid

    2007-11-01

    Full Text Available OBJETIVO: Revisar as novas opções nas terapêuticas insulínicas para controlar o diabetes melito de crianças e adolescentes. FONTES DOS DADOS: Foram revisados artigos indexados no PubMed buscados conforme as palavras insulin analogs in children and adolescents e incluídas informações contidas nos consensos da American Diabetes Association e Sociedade Brasileira de Diabetes. SÍNTESE DOS DADOS: São apresentadas informações sobre os novos análogos da insulina e, para comparação, são também revisadas as outras diferentes modalidades de insulina que estão atualmente disponíveis, focalizando nas terapias insulínicas que tentam fornecer uma aproximação mais fisiológica das estratégias basal-bolos no tratamento. Com o objetivo de obter melhor controle metabólico, mais e mais crianças estão em regimes de múltiplas injeções diárias ou usando infusões subcutâneas contínuas de insulina. Atingir controle glicêmico ótimo nas crianças é difícil devido ao maior risco de hipoglicemia decorrente da grande variabilidade em hábitos de ingerir alimentos e em níveis de atividade física. Se aplicados em bolos, subcutâneos, no diabetes tipo 1, os análogos de ação rápida, comparados com insulina humana regular, geralmente reduzem os episódios de hipoglicemia e glicemia pós-prandial, enquanto os análogos basais tendem a reduzir particularmente a hipoglicemia noturna. CONCLUSÃO: Embora os benefícios nos desfechos individuais metabólicos e clínicos pareçam modestos, a maioria dos estudos demonstra benefícios quando são usados análogos de insulina no tratamento do diabetes tipo 1 ou 2.OBJECTIVE:To review the new options in insulin therapy for controlling diabetes mellitus in children and adolescents. SOURCES: Articles indexed in PubMed were located using the search terms insulin analogs in children and adolescents and reviewed. Information was also obtained from American Diabetes Association and Sociedade Brasileira

  2. CHINA'S LARGEST OIL & GAS MIXED-TRANSMISSION PROJECT PUT INTO OPERATION IN KAZAKSTAN SUCCESSFULLY

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

    @@ The largest oil & gas mixed-transmission project in China's petroleum industry had been put into operation in Kazakstan successfully, which indicates that CNPC has entered the leading list in oil & gas mixed-transmission technology in the world.

  3. Putting the Nation on a Path for Climate Resilience and Preparedness

    Science.gov (United States)

    Putting current data in a historical context, NOAA publishes the monthly State of the Climate Report that includes analyses of the Nation's recent climate conditions, their unusualness, and their rank within long‐term trends.

  4. IMPROVING THE STUDENTS’ EFL WRITING ABILITY THROUGH “PUT YOURSELF IN THE PICTURE” STRATEGY

    Directory of Open Access Journals (Sweden)

    Muhammad Lukman Syafii

    2015-09-01

    Full Text Available Abstract: This Action research was intended to improve the students’ EFL writing ability through “Put Yourself in the Picture” strategy. This research involved 33 first year managemen major of students A of Muhammadiyah University of Ponorogo in the academic year 2015/2016. This research was conducted in two cycles by following the procedures of the action research, namely, planning, implementing, observing, and reflecting. Each cycle of the research encompassed three meetings. The data of the research were gathered through observation checklists, field notes, questionnaire, and portfolio. The findings of research showed that “Put Yourself in the Picture” strategy has proven effectively to improve the student’ writing ability. The improvement could be seen from the increase of the students’ average writing score. Besides, “Put Yourself in the Picture” strategy can increase the students’ participation during the process of writing. Key words: “Put Yourself in the Picture” strategy, writing ability

  5. YANGPU WORLD PETROLEUM BARTER TRADE CENTER PUT INTO OPERATION IN CHINA

    Institute of Scientific and Technical Information of China (English)

    Shan Wenge

    2005-01-01

    @@ Recently, the first petroleum barter trade market in the world has been put into operation in success, which becomes to the third petroleum trade mode in parallel with petroleum future trade and spot trade.

  6. THE INFLUENCE OF POST ACTIVATION POTENTIATION ON SHOT PUT PERFORMANCE OF COLLEGIATE THROWERS.

    Science.gov (United States)

    Judge, Lawrence W; Bellar, David; Craig, Bruce; Gilreath, Erin; Cappos, Scott; Thrasher, Ashley

    2013-08-12

    The purpose of this investigation was to determine the acute effects of heavy and light implements on subsequent overhead back (OHB) shot put performance with a competition weight shot put. The present investigation was designed test the efficacy of heavy implements for potentiating subsequent OHB performance. Participants included 41 athletes (20.9±1.18yrs.) from two NCAA Division I schools in the Midwestern United States (n=23 male, n=18 female). Mean distance for OHB throw with a competition shot put was examined post treatment (control, light shot put warm up, heavy shot put warm up) via Repeated Measures ANOVA with post hoc Bonferroni corrected post hoc analysis. Responses post-treatment on the 10 cm Visual Analogue Fatigue Scale (VAS) were examined via repeated measures ANOVA and demonstrated a significant main effect for treatment on VAS fatigue (F=16.463, p=0.001). The heavy shot put warm-up resulted in the greatest mean performance over the course of the three attempts (14.39m±1.82) followed by the light shot put warm up (14.18m±1.68) and the control (14.15m±1.70). Results of the repeated measures ANOVA demonstrated a significant main effect for treatment in regard to average distance (F=6.276, p=0.003). Post hoc testing suggested that the heavy shot put warm-up resulted in significantly better mean OHB performance than either the light shot put warm-up (t=2.983, p=0.0048, ES=0.472, Power=0.901) or the control shot put warm-up (t=3.349, p=0.0018, ES=0.513, Power= 0.939). Subsequent analysis examined the relationship between reported fatigue accrued during the overweight shot put warm-up and the change in performance on the OHB throw when compared to the control condition. Analysis revealed that subjects who reported higher levels of VAS fatigue did not perform as well after the overweight treatment (p=0.0274).

  7. Influence of Postactivation Potentiation on Shot Put Performance of Collegiate Throwers.

    Science.gov (United States)

    Judge, Lawrence W; Bellar, David M; Craig, Bruce W; Gilreath, Erin L; Cappos, Scott A; Thrasher, Ashley B

    2016-02-01

    The purpose of this investigation was to determine the acute effects of heavy and light implements on subsequent overhead back (OHB) shot put performance with a competition weight shot put. This investigation was designed to test the efficacy of heavy implements for potentiating subsequent OHB performance. Participants included 41 athletes (20.9 ± 1.18 years.) from 2 National Collegiate Athletic Association Division I schools in the Midwestern United States (n = 23 male and n = 18 female). Mean distance for OHB throw with a competition shot put was examined after treatment (control, light shot put warm-up, and heavy shot put warm-up) through repeated-measures analysis of variance (ANOVA) with post hoc Bonferroni-corrected post hoc analysis. Responses after treatment on the 10-cm visual analog scale (VAS) fatigue were examined through repeated-measures ANOVA and demonstrated a significant main effect for treatment on VAS fatigue (F = 16.463; p = 0.001). The heavy shot put warm-up resulted in the greatest mean performance over the course of the 3 attempts (14.39 ± 1.82 m) followed by the light shot put warm-up (14.18 ± 1.68 m) and the control (14.15 ± 1.70 m). Results of the repeated-measures ANOVA demonstrated a significant main effect for treatment in regard to average distance (F = 6.276; p = 0.003). Post hoc testing suggested that the heavy shot put warm-up resulted in significantly better mean OHB performance than either the light shot put warm-up (t = 2.983; p = 0.0048; ES = 0.472; power = 0.901) or the control shot put warm-up (t = 3.349; p = 0.0018; effect size [ES] = 0.513; power = 0.939). Subsequent analysis examined the relationship between reported fatigue accrued during the overweight shot put warm-up and the change in performance on the OHB throw when compared to the control condition. Analysis revealed that subjects who reported higher levels of VAS fatigue did not perform as well after the overweight treatment (p = 0.0274).

  8. World-class PTA Project of BP Put into Production in Zhuhai

    Institute of Scientific and Technical Information of China (English)

    2003-01-01

    @@ The first-phase project of Zhuhai BP Chemical Co Ltd - the 350,000-ton PTA production facility - was put into production on September 9 in Zhuhai,Guangdong Province. The letter of intent for this project was signed in 1989, but construction did not start until October 2000. The first phase project,which draws an investment of US$360million, was completed and put into commissioning in January this year.

  9. Particle separation options for emergency water treatment.

    Science.gov (United States)

    Dorea, C C; Bertrand, S; Clarke, B A

    2006-01-01

    Emergencies can result from the effects of unpredictable natural forces or from the cruelty of conflicts. The affected population is often left vulnerable to increased health risks. The victims' exposure to these risks can be reduced by timely public health interventions. Often, one of the first basic mitigations is the provision of water for essential needs. The quickest option, and generally more polluted, is of surface waters. We have reviewed particle separation options for emergency water treatment of surface waters. These vary from granular filtration package treatment facilities to ceramic candle filters and have therefore been broadly classified in three categories: modular, mobile and point-of-use (or household). The operational requirements and process limitations that can influence the choice of each option are discussed alongside with their underlying particle separation mechanisms and performance data.

  10. The Fundamental Uncertainty of Business: Real Options

    Science.gov (United States)

    Dyer, James S.

    The purpose of this paper is to discuss the manner in which uncertainty is currently evaluated in business, with an emphasis on economic measures. In recent years, the accepted approach for the valuation of capital investment decisions has become one based on the theory of real options. From the standpoint of this workshop, the interesting aspect of real options is its focus on the flexibility of management to respond to changes in the environment as a feature of an alternative that has unique value, known as "option value." While this may not be surprising to most participants in this workshop, it does represent a radical change in traditional thinking about risk in business, where efforts have primarily been focused on the elimination of risk when possible.

  11. Mine Drainage Generation and Control Options.

    Science.gov (United States)

    Wei, Xinchao; Rodak, Carolyn M; Zhang, Shicheng; Han, Yuexin; Wolfe, F Andrew

    2016-10-01

    This review provides a snapshot of papers published in 2015 relevant to the topic of mine drainage generation and control options. The review is broken into 3 sections: Generation, Prediction and Prevention, and Treatment Options. The first section, mine drainage generation, focuses on the characterization of mine drainage and the environmental impacts. As such, it is broken into three subsections focused on microbiological characterization, physiochemical characterization, and environmental impacts. The second section of the review is divided into two subsections focused on either the prediction or prevention of acid mine drainage. The final section focuses on treatment options for mine drainage and waste sludge. The third section contains subsections on passive treatment, biological treatment, physiochemical treatment, and a new subsection on beneficial uses for mine drainage and treatment wastes.

  12. ANALYSIS OF AN INTERDISCIPLINARY OPTIONAL COURSE: GEOINFORMTICS

    Directory of Open Access Journals (Sweden)

    CRISTIAN STĂNILĂ

    2016-01-01

    Full Text Available In the first part, we presented the concept of curriculum and analysed aspects related to the introduction of school-based curriculum in secondary education in Romania. The objective of this study was to analyse the curriculum of a Geoinformatics optional course, the “annual plan”, the “learning unit plan”, the learning activities included in the Geoinformatics optional course, the students’ achievement in this course and their views on the subject matter. In order to identify the students’ opinions about the course, we used the questionnaire as the survey method. We concluded that this optional course met the students’ expectations and interests, being correlated to the prospects of evolution of the knowledge-based society.

  13. Valuating Privacy with Option Pricing Theory

    Science.gov (United States)

    Berthold, Stefan; Böhme, Rainer

    One of the key challenges in the information society is responsible handling of personal data. An often-cited reason why people fail to make rational decisions regarding their own informational privacy is the high uncertainty about future consequences of information disclosures today. This chapter builds an analogy to financial options and draws on principles of option pricing to account for this uncertainty in the valuation of privacy. For this purpose, the development of a data subject's personal attributes over time and the development of the attribute distribution in the population are modeled as two stochastic processes, which fit into the Binomial Option Pricing Model (BOPM). Possible applications of such valuation methods to guide decision support in future privacy-enhancing technologies (PETs) are sketched.

  14. Essay on Option Pricing, Hedging and Calibration

    DEFF Research Database (Denmark)

    da Silva Ribeiro, André Manuel

    Quantitative finance is concerned about applying mathematics to financial markets.This thesis is a collection of essays that study different problems in this field: How efficient are option price approximations to calibrate a stochastic volatilitymodel? (Chapter 2) How different is the discretely...... sampled realized variance from the continuouslysampled realized variance? (Chapter 3) How can we do static hedging for a payoff with two assets? (Chapter 4) Can we apply fast Fourier Transform methods to efficiently use interest rateMarkov-functional models? Can we extend them to accommodate othertypes...... variance. We investigated the impact of their assumptions and we present an adjustment for their formula. Our adjustment provides a better approximation to price discretely sampled realized variance options under different market scenarios Static Hedging for Two-Asset Options In this paper we derive...

  15. Possible involvement of put A gene in Helicobacter pylori colonization in the stomach and motility.

    Science.gov (United States)

    Nakajima, Kazuhiko; Inatsu, Sakiko; Mizote, Tomoko; Nagata, Yoko; Aoyama, Kazue; Fukuda, Yoshihiro; Nagata, Kumiko

    2008-02-01

    H. pylori is a gram-negative bacterium associated with gastric inflammation and peptic ulcer and considered a risk factor for gastric cancer in its natural habitat. However, the energy metabolism of H. pylori in the stomach remains to be clarified. H. pylori shows rather high respiratory activity with L-proline and significantly large amounts of L-proline are present in the gastric juice from H. pylori infected patients. We constructed a disrupted mutant of the put A gene, which encodes the proline utilization A (Put A) flavin-linked enzyme, in order to examine the role of put A in the gastric colonization of H. pylori. The put A disrupted mutant, DeltaputA, was constructed by inserting a chloramphenicol resistant gene into put A. DeltaputA did not show respiratory activity using L-proline and could not incorporate L-proline into cells. DeltaputA also did not show motility in response to amino acids and did not display the swarming activity observed with the wild-type. DeltaputA had lost its ability to colonize the stomach of nude mice, an ability possessed by the wild-type. These findings indicate that put A may play an important role in H. pylori colonization on the gastric mucus layer.

  16. African-American Biography.

    Science.gov (United States)

    Martin, Ron

    1995-01-01

    Suggests sources of information for African American History Month for library media specialists who work with students in grades four through eight. Gale Research's "African-American Reference Library," which includes "African-America Biography,""African-American Chronology," and "African-American Almanac,"…

  17. Nonsurgical Treatment Options for Basal Cell Carcinoma

    Directory of Open Access Journals (Sweden)

    Mary H. Lien

    2011-01-01

    Full Text Available Basal cell carcinoma (BCC remains the most common form of nonmelanoma skin cancer (NMSC in Caucasians, with perhaps as many as 2 million new cases expected to occur in the United States in 2010. Many treatment options, including surgical interventions and nonsurgical alternatives, have been utilized to treat BCC. In this paper, two non-surgical options, imiquimod therapy and photodynamic therapy (PDT, will be discussed. Both modalities have demonstrated acceptable disease control rates, cosmetically superior outcomes, and short-term cost-effectiveness. Further studies evaluating long-term cure rates and long-term cost effectiveness of imiquimod therapy and PDT are needed.

  18. Recent Advances in Real Options Signaling Games

    Directory of Open Access Journals (Sweden)

    George Rigopoulos

    2014-12-01

    Full Text Available Financial economics have benefited from game theory advances and its application to various domains where competition is present. Following relevant research this paper presents a literature review of recent works on the intersection of real options and game theory, especially on signaling games. A preliminary background is presented initially and next a review of the works is presented. The paper compiles existing works to a useful reference for researchers in the field. Keywords: Signaling games; Capital budgeting, Real options, Game theory, Discrete time games

  19. Space Civil Engineering option - A progress report

    Science.gov (United States)

    Criswell, Marvin E.; Sadeh, Willy Z.

    1992-01-01

    Space Civil Engineering is an emerging engineering discipline that focuses on extending and expanding Civil Engineering to the development, operation, and maintenance of infrastructures on celestial bodies. Space Civil Engineering is presently being developed as a new discipline within the Department of Civil Engineering at Colorado State University and with support of the NASA Space Grant College Program. Academic programs geared toward creating Space Civil Engineering Options at both undergraduate and graduate levels are being formulated. Basic ideas and concepts and the current status of the curriculum in the Space Civil Engineering Option primarily at the undergraduate level are presented.

  20. Asset allocation using option-implied moments

    Science.gov (United States)

    Bahaludin, H.; Abdullah, M. H.; Tolos, S. M.

    2017-09-01

    This study uses an option-implied distribution as the input in asset allocation. The computation of risk-neutral densities (RND) are based on the Dow Jones Industrial Average (DJIA) index option and its constituents. Since the RNDs estimation does not incorporate risk premium, the conversion of RND into risk-world density (RWD) is required. The RWD is obtained through parametric calibration using the beta distributions. The mean, volatility, and covariance are then calculated to construct the portfolio. The performance of the portfolio is evaluated by using portfolio volatility and Sharpe ratio.

  1. Pricing Power Options within the Heston Framework

    Directory of Open Access Journals (Sweden)

    Siti N.I. Ibrahim

    2013-03-01

    Full Text Available Numerous studies have presented evidence that certain financial assets may exhibit stochastic volatility or jumps, which cannot be captured within the Black-Scholes environment. This work investigates the valuation of power options when the variance follows the Heston model of stochastic volatility. A closed form representation of the characteristic function of the process is derived from the partial differential equation (PDE of the replicating portfolio. The characteristic function is essential for the computation of the European power option prices via the Fast Fourier Transform (FFT technique. Numerical results are presented. © 2012 Published by NTMSCI Selection and/or peer review under responsibility of NTMSCI Publication Society

  2. Shoulder acromioclavicular joint reconstruction options and outcomes.

    Science.gov (United States)

    Lee, Simon; Bedi, Asheesh

    2016-12-01

    Acromioclavicular joint separations are a common cause of shoulder pain in the young athletic population. In high-grade injuries, acromioclavicular joint reconstruction procedures may be indicated for functional improvement. There is currently no gold standard for the surgical management of these injuries. Multiple reconstructive options exist, including coracoclavicular screws, hook plates, endobutton coracoclavicular fixations, and anatomic ligament reconstructions with tendon grafts. This article aims to review pertinent acromioclavicular joint anatomy and biomechanics, radiographic evaluation, classification system, as well as reconstruction options, outcomes, and complications.

  3. The Application of Expand Option of Real Options in Human Resources Evaluation

    Institute of Scientific and Technical Information of China (English)

    CHANG Qing; HU Cheng-cui

    2006-01-01

    The traditional models of evaluating human resources are mainly based upon the discounted value of future payment, but these models fail to take the employment risk into account, and often neglect the uncertainty and underestimate the human resource value. This paper first introduces the option theory, and then presents human resources as the real commodity for the call option. Second, concerning the choices for the uncertainty decision, the decisions of delaying the employment of the human resources, expanding or deducing the scale of human resources, giving up or changing human resources, etc., are made to deal with the future uncertainties appropriately. This will cause the investment to be more beneficial or to reduce the loss. Finally, the expand option theory of real options is used to evaluate the value of reinvestment in human resources, and the expand option theory could be provided as a reference for management implementation and decision-making in human resources.

  4. Culturally Responsive Collegiate Mathematics Education: Implications for African American Students

    Science.gov (United States)

    Jett, Christopher C.

    2013-01-01

    In this article, the author utilizes the culturally congruent work of Gay (2010) and Ladson-Billings (2009) to highlight culturally responsive teaching as a viable option for African American students in higher education mathematics spaces. He offers translations of Gay and Ladson-Billings' work to Africana mathematics and argues that these…

  5. Rotator Cuff Tears: Surgical Treatment Options

    Science.gov (United States)

    ... the methods available has its own advantages and disadvantages, all have the same goal: getting the tendon ... AAOS “Find an Orthopaedist” program on OrthoInfo.org. Copyright ©1995-2013 by the American Academy of Orthopaedic ...

  6. GARCH Option Valuation: Theory and Evidence

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Jacobs, Kris; Ornthanalai, Chayawat

    We survey the theory and empirical evidence on GARCH option valuation models. Our treatment includes the range of functional forms available for the volatility dynamic, multifactor models, nonnormal shock distributions as well as style of pricing kernels typically used. Various strategies...

  7. Melasma: clinical diagnosis and management options.

    Science.gov (United States)

    Rodrigues, Michelle; Pandya, Amit G

    2015-08-01

    Melasma is a common acquired disorder of pigmentation most commonly seen in those with skin of colour. It has long been a condition that is frustrating for both the dermatologist and patient to treat. This article provides a review of the literature on melasma and examines, in detail, various treatment options currently available to treat it.

  8. Valuing options for electric power resources

    Energy Technology Data Exchange (ETDEWEB)

    Cater, J.C.

    1995-04-01

    Derivatives, while new to the electricity industry, have been traded in securities markets for quite some time. Fortunately, established techniques for evaluating and pricing options and futures contracts for other industries and commodities can readily be adapted to their use in the electricity industry.

  9. PRICING AND HEDGING OPTION UNDER PORTFOLIO CONSTRAINED

    Institute of Scientific and Technical Information of China (English)

    魏刚; 陈世平

    2001-01-01

    The authors employ convex analysis and stochastic control approach to study the question of hedging contingent claims with portfolio constrained to take values in a given closed, convex subset of RK, and extend the results of Gianmario Tessitore and Jerzy Zabczyk[6] on pricing options in multiasset and multinominal model.

  10. Fertility preservation options in breast cancer patients.

    Science.gov (United States)

    Kasum, Miro; von Wolff, Michael; Franulić, Daniela; Čehić, Ermin; Klepac-Pulanić, Tajana; Orešković, Slavko; Juras, Josip

    2015-01-01

    The purpose of this review is to analyse current options for fertility preservation in young women with breast cancer (BC). Considering an increasing number of BC survivors, owing to improvements in cancer treatment and delaying of childbearing, fertility preservation appears to be an important issue. Current fertility preservation options in BC survivors range from well-established standard techniques to experimental or investigational interventions. Among the standard options, random-start ovarian stimulation protocol represents a new technique, which significantly decreases the total time of the in vitro fertilisation cycle. However, in patients with oestrogen-sensitive tumours, stimulation protocols using aromatase inhibitors are currently preferred over tamoxifen regimens. Cryopreservation of embryos and oocytes are nowadays deemed the most successful techniques for fertility preservation in BC patients. GnRH agonists during chemotherapy represent an experimental method for fertility preservation due to conflicting long-term outcome results regarding its safety and efficacy. Cryopreservation of ovarian tissue, in vitro maturation of immature oocytes and other strategies are considered experimental and should only be offered within the context of a clinical trial. An early pretreatment referral to reproductive endocrinologists and oncologists should be suggested to young BC women at risk of infertility, concerning the risks and benefits of fertility preservation options.

  11. 78 FR 7997 - Noncompensatory Partnership Options

    Science.gov (United States)

    2013-02-05

    ... result in a substantial reduction in the present value of the partners' and the option holder's aggregate... holder as a partner would result in a substantial reduction in the present value of the partners' and the... market value of the underlying partnership interest on the date of the measurement event. The second...

  12. A Dexterous Optional Randomized Response Model

    Science.gov (United States)

    Tarray, Tanveer A.; Singh, Housila P.; Yan, Zaizai

    2017-01-01

    This article addresses the problem of estimating the proportion Pi[subscript S] of the population belonging to a sensitive group using optional randomized response technique in stratified sampling based on Mangat model that has proportional and Neyman allocation and larger gain in efficiency. Numerically, it is found that the suggested model is…

  13. Sanctions: Buying Time for Better Options

    Science.gov (United States)

    2003-03-10

    Algeria among others. If these criticisms are not reason enough to avoid or discontinue sanctions as a policy tool, there are others. Imposed...reinforcing this option between 1994 and 1999 when "Millions of people survive by eating grasses, corn stalks or whatever else they can forage .൸ North

  14. Ulster Carpets - Cleaner Production option report

    DEFF Research Database (Denmark)

    Wenzel, Henrik; Mercer, David

    A survey on options for saving water and energy was conducted at Ulster Carpets on 14th November 2002 by Henrik Wenzel from the Institute for Product Development in Denmark, and David Mercer from Enviros, South Africa. This report details observations made during this site visit and makes...

  15. Rare Disasters, Credit, and Option Market Puzzles

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Du, Du; Elkamhi, Redouane

    2016-01-01

    calibrated to the real economy can simultaneously explain several key empirical regularities in equity, credit, and options markets. Our model captures the empirical level and volatility of credit spreads, generates a flexible credit risk term structure, and provides a good fit to a century of observed...

  16. Nondegree Options for Expanding a Leadership Portfolio.

    Science.gov (United States)

    Bleich, Michael R; Jones-Schenk, Jan

    2016-07-01

    Organizational leaders are time-challenged to stay attuned with dynamic health care and business environments, leaving time for professional development at a premium. Beyond interorganizational leadership programs, learning options for nondegree-enhanced education are provided, referencing some of the high-quality, high-volume programs available at no or low cost. J Contin Educ Nurs. 2016;47(7):299-301.

  17. MECHANISTIC OPTIONS OF ERYTHROPOIETIN-STIMULATED ERYTHROPOIESIS

    NARCIS (Netherlands)

    NIJHOF, W; DEHAAN, G; PIETENS, J; DONTJE, B

    1995-01-01

    The in vivo mechanism of hematopoietic growth factor-induced cell multiplication is in debate. Several options can be examined: 1) growth factors can reduce the cycling time of their dividing target cells, 2) growth factors can add extra cell divisions within the differentiation pathway, 3) the comb

  18. Treatment Options for Mallet Finger : A Review

    NARCIS (Netherlands)

    Smit, Jeroen M.; Beets, Michiel R.; Zeebregts, Clark J.; Rood, Akkie; Welters, Carlo F. M.

    2010-01-01

    Background: Mallet finger is a common injury. The aim of this review is to give an overview of the different treatment options of mallet injuries and their indications, outcomes, and potential complications. Methods: A literature-based study was conducted using the PubMed database comprising world

  19. Acquisitions and Real Options : The Greenfield Alternative

    NARCIS (Netherlands)

    Brouthers, Keith D.; Dikova, Desislava

    2010-01-01

    P>Although acquisitions are a popular way to enter new markets, empirical evidence tends to indicate few benefits accrue to acquiring firms. This might be the case because firms use acquisitions when they should be employing an alternative mode of expansion. Applying real options theory to this issu

  20. Double Ramp Loss Based Reject Option Classifier

    Science.gov (United States)

    2015-05-22

    Cao et al. (Eds.): PAKDD 2015, Part I, LNAI 9077, pp. 151–163, 2015. DOI: 10.1007/978-3-319-18038-0 12 152 N. Manwani et al. ρ is the parameter...A.: kernlab - an S4 package for kernel methods in R. Journal of Statistical Software 11(9), 1–20 ( 2004 ) Double Ramp Loss Based Reject Option

  1. The Strategic Options of Supreme Audit Institutions

    DEFF Research Database (Denmark)

    Klarskov Jeppesen, Kim; Carrington, Thomas; Catasús, Bino

    2017-01-01

    Based on the theory of professional competition, this paper identifies and investigates four strategic options of supreme audit institutions (SAIs) through a case study of four Nordic national audit offices: a performance auditing strategy; a financial auditing strategy; a portfolio strategy...

  2. Philippines : PPP Options in Irrigation Sector

    OpenAIRE

    World Bank

    2013-01-01

    This study proposes an analytical framework to determine the extent to which Public-Private Partnership (PPP) is a viable and effective business option for developing and modernizing the irrigation sector in the Philippines. It focuses on: (a) assessing and providing recommendations to address the policy, regulatory and institutional constraints that limit the recourse to PPP as a tool to ...

  3. Paper Document Storage: A Summary of Options.

    Science.gov (United States)

    Dixon, Ross

    1995-01-01

    Discusses problems with paper storage; considers organizational requirements for storage, including access, cost, and security; describes storage options, including filing cabinets, open shelving, cabinets, carousels, mobile racking, and rotary storage; and examines paper storage as part of a records management strategy. (LRW)

  4. Online Options for Math-Advanced Students

    Science.gov (United States)

    Wessling, Suki

    2012-01-01

    Once upon a time, a student well advanced past grade level in math would have had few choices. Advanced students would invariably outpace the skills of their elementary teachers, and due to age wouldn't have options such as going to the middle school or community college for classes. Soon thereafter, students would enter middle school only to find…

  5. Fast Spectrum Molten Salt Reactor Options

    Energy Technology Data Exchange (ETDEWEB)

    Gehin, Jess C [ORNL; Holcomb, David Eugene [ORNL; Flanagan, George F [ORNL; Patton, Bruce W [ORNL; Howard, Rob L [ORNL; Harrison, Thomas J [ORNL

    2011-07-01

    During 2010, fast-spectrum molten-salt reactors (FS-MSRs) were selected as a transformational reactor concept for light-water reactor (LWR)-derived heavy actinide disposition by the Department of Energy-Nuclear Energy Advanced Reactor Concepts (ARC) program and were the subject of a preliminary scoping investigation. Much of the reactor description information presented in this report derives from the preliminary studies performed for the ARC project. This report, however, has a somewhat broader scope-providing a conceptual overview of the characteristics and design options for FS-MSRs. It does not present in-depth evaluation of any FS-MSR particular characteristic, but instead provides an overview of all of the major reactor system technologies and characteristics, including the technology developments since the end of major molten salt reactor (MSR) development efforts in the 1970s. This report first presents a historical overview of the FS-MSR technology and describes the innovative characteristics of an FS-MSR. Next, it provides an overview of possible reactor configurations. The following design features/options and performance considerations are described including: (1) reactor salt options-both chloride and fluoride salts; (2) the impact of changing the carrier salt and actinide concentration on conversion ratio; (3) the conversion ratio; (4) an overview of the fuel salt chemical processing; (5) potential power cycles and hydrogen production options; and (6) overview of the performance characteristics of FS-MSRs, including general comparative metrics with LWRs. The conceptual-level evaluation includes resource sustainability, proliferation resistance, economics, and safety. The report concludes with a description of the work necessary to begin more detailed evaluation of FS-MSRs as a realistic reactor and fuel cycle option.

  6. 78 FR 53677 - Safety Zone; Battle of Lake Erie Fireworks, Lake Erie, Put-In-Bay, OH

    Science.gov (United States)

    2013-08-30

    ..., Put-In- Bay, OH AGENCY: Coast Guard, DHS. ACTION: Temporary final rule. SUMMARY: The Coast Guard is establishing temporary safety zone in the waters of Lake Erie, Put-In-Bay, Ohio. This zone is intended to... the launching of fireworks in the vicinity of Put-In-Bay, OH on September 1, 2013. The Captain of...

  7. 78 FR 53675 - Safety Zone; Lake Erie Heritage Foundation, Battle of Lake Erie Reenactment; Lake Erie, Put-in...

    Science.gov (United States)

    2013-08-30

    ... Lake Erie Reenactment; Lake Erie, Put-in-Bay, OH AGENCY: Coast Guard, DHS. ACTION: Temporary final rule... vicinity of Put-In-Bay, OH. This safety zone is intended to restrict vessels from a portion of Lake Erie during Battle of Lake Erie Reenactment near Put-In-Bay. This temporary safety zone is necessary...

  8. Random Versus Blocked Practice to Enhance Mental Representation in Golf Putting.

    Science.gov (United States)

    Fazeli, Davoud; Taheri, HamidReza; Saberi Kakhki, Alireza

    2017-06-01

    The purpose of this study was to investigate changes in mental representation from either random or blocked practice when engaged in golf putting. Thirty participants were randomly assigned to random practice, blocked practice, and no-practice groups. First, we measured novice golfers' initial mental representation levels and required them to perform 18 putting trials as a pre-test. We then asked random and blocked groups to practice in accordance with their group assignment for six consecutive days (10 blocks each day, 18 trials each). A week after the last practice session, we re-measured all participants' final mental representation levels and required them to perform 18 putting trials to evaluate learning retention through practice. While those engaged in the random practice method putted more poorly during acquisition (i.e., practice) than those in blocked practice, the random practice group experienced more accurate retention during the final putting trials, and they showed a more structured mental representation than those in blocked practice, one that was more similar to that of skilled golfers. These results support the acquisition of a rich mental representation through random versus blocked practice.

  9. Designing viable cropping options for salt-affected lands

    Science.gov (United States)

    Shabala, Sergey; Meinke, Holger

    2017-04-01

    Salinity cost agricultural sector over 27Bln pa in lost opportunities and is an issue that crosses all spatial and temporal scales - from individual fields, farms, catchments, landscapes to national and global levels. Salinity manifests itself in many forms and often leads to further soil degradation such as erosion, nutrient and soil organic matter depletion, and a loss of (soil) biodiversity. Salinity may also cause major disturbance to ecosystems due to its impact on resources (e.g. pollution of aquifers). In extreme cases it can turn previously highly productive areas into wastelands. An increasing global population and unprecedented urban sprawls are now putting additional pressures on our soil and water resources, particularly in regions where urbanisation directly competes with agriculture for access to land and water. And although everyone agrees that avoiding soil salinity in the first instance would be the most effective way of combating it, reality is that the amount of saline land and water resources is rapidly increasing, and will continue to increase, especially in developing countries. Purposefully designing our cropping systems that can cope with various levels of salinity could be one answer to this increasing problem. In this work we review some of the key cropping options that can be deployed to either avoid, reduce or remediate salt-affected lands. We argue that for these measures to be most effective an ongoing science - policy - society dialogue is required to ensure that policy frameworks that govern land and water management are conducive to reducing salinity or even assist in restoring affected areas. We first consider several case studies highlighting the extent of the problem using ongoing salinity hotspots around the globe. We then look at halophytes as a possible biological tools to remediate already saline sols, and discuss prospects of mixed (halophytes and glycophytes) cropping solutions for various agricultural systems at different

  10. Real Options Analysis of Electricity Investments

    Energy Technology Data Exchange (ETDEWEB)

    Heggedal, Ane Marte

    2012-07-01

    This thesis utilizes real options analysis for evaluating investment opportunities in the electricity sector. It also formally tests how investors in hydropower plants have included uncertainty when considering their investment opportunities. The real options method applies financial options theory to quantify the value of management flexibility and is chosen due to three important characteristics of investments in the electricity sector. First; the investment is completely or partially irreversible, second; the investor can choose when to invest in the facility, and third; there is uncertainty in several factors affecting the cash flows of the investments. Factors of uncertainty include the development of electricity prices, policies, technological advances, and macroeconomics measures.Four papers are included in this thesis. Paper 1, Upgrading hydropower plants with storage: Timing and capacity choice, presents a valuation framework for deciding when to upgrade an existing hydropower plant and which capacity to choose. The second paper, Transmission capacity between Norway and Germany: A real options analysis, sheds light on when two electricity markets, in this case Norway and Germany, should be connected through a sub sea cable. The investor can choose when to invest and the capacity of the cable, and may also choose to invest sequentially. Paper 3, Optimal timing and capacity choice for pumped hydropower storage, investigates when investment in a pumped hydropower plant with storage should be undertaken and what the capacity of the facility should be. Whereas the three first papers investigate investment opportunities, Paper 4, Uncertain climate policy decisions and investment timing: Evidence from small hydropower plants, studies when investors in small hydropower plants chose to invest. The analyses disclose whether the net present value approach or the real options method best describe the investment decisions made by the investors. Viewing investment

  11. Putting to a bigger hole: Golf performance relates to perceived size

    Science.gov (United States)

    Witt, Jessica K.; Linkenauger, Sally A.; Bakdash, Jonathan Z.; Proffitt, Dennis R.

    2011-01-01

    When engaged in a skilled behaviour such as occurs in sports, people's perceptions relate optical information to their performance. In current research we demonstrate the effects of performance on size perception in golfers. We found golfers who played better judged the hole to be bigger than golfers who did not play as well (Study 1). In follow-up laboratory experiments, participants putted on a golf mat from a location near or far from the hole then judged the size of the hole. Participants who putted from the near location perceived the hole to be bigger than participants who putted from the far location. Our results demonstrate that perception is influenced by the perceiver's current ability to act effectively in the environment. PMID:18567258

  12. Are stock options the managers' blessing?, stock option compensation and institutional controls

    OpenAIRE

    Benz, Matthias; Kucher, Marcel; Stutzer, Alois

    2001-01-01

    Stock option grants to top managers have largely contributed to the dramatic increase in US executive pay in recent years. In this paper it is argued that stock options, compared to other forms of compensation, have created strong incentives for managers to engage in lobbying activities for higher compensation. The empirical results presented for the S&P 500 firms and the years from 1992 to 1997 show that the relative success of such skimming activities is shaped by institutional controls. St...

  13. Internet privacy options for adequate realisation

    CERN Document Server

    2013-01-01

    A thorough multidisciplinary analysis of various perspectives on internet privacy was published as the first volume of a study, revealing the results of the achatech project "Internet Privacy - A Culture of Privacy and Trust on the Internet." The second publication from this project presents integrated, interdisciplinary options for improving privacy on the Internet utilising a normative, value-oriented approach. The ways in which privacy promotes and preconditions fundamental societal values and how privacy violations endanger the flourishing of said values are exemplified. The conditions which must be fulfilled in order to achieve a culture of privacy and trust on the internet are illuminated. This volume presents options for policy-makers, educators, businesses and technology experts how to facilitate solutions for more privacy on the Internet and identifies further research requirements in this area.

  14. Conversion options for Peterhead Power Station

    Energy Technology Data Exchange (ETDEWEB)

    Dibble, I.R.; O' Donnell, I.H. [Scottish Hydro-Electric plc, Perth (United Kingdom); Hunt, G.F. [Thermoflow Ltd., Tewkesbury (United Kingdom)

    1999-07-01

    The two gas/oil-fired 660 MW generating sets at Scottish Hydro-Electric's Peterhead Power Station were originally commissioned in 1981/2 and in order to remain competitive it was essential to upgrade the plant. This paper describes the plant performance aspects of a study carried out by Scottish Hydro-Electric to identify the possible routes for plant modification and the associated efficiency of each option. Scottish Hydro-Electric employed the suite of Thermoflow programs to carry out the performance study. These programs had sufficient flexibility to model the performance of the original plant and then to analyse the variety of re-powering options available, using the original accurate modes as the basis. (author)

  15. Polymyxins resistance: old antimicrobials, last therapeutic options

    Directory of Open Access Journals (Sweden)

    Raquel Girardello

    2012-07-01

    Full Text Available Polymyxins are polypeptide antimicrobials that act in the cell membranes and promote decrease of the cell wall integrity. These antimicrobials are used in the clinical practice for treatment of the multi-drug resistant Gram negative bacilli infections as the last therapeutic option. The polymyxin resistance involves lipopolysaccharide modifi cations that decrease the affi nity of the antimicrobial with the cell surface. These modifi cations are regulated by two component systems that are active by environmental infl uences as cation presence, pH or polymyxin exposure. The environmental infl uences initiate the action of the genes that develop the polymyxins resistant phenotype. The polymyxins viability maintenance is essential for the treatment for multi-drug resistant bacilli infections, while new therapeutic options are not available.KEYWORDS polimixins antimicrobial resistance

  16. Contraceptive options for women living with HIV.

    Science.gov (United States)

    Phillips, Sharon; Steyn, Petrus; Temmerman, Marleen

    2014-08-01

    Women living with HIV are often of reproductive age, and many desire effective contraceptive options to delay or prevent pregnancy. We review the safety of various hormonal and non-hormonal contraceptive methods for women living with human immunodeficiency virus (HIV). Additionally, we discuss drug interactions between contraceptive methods and antiretrovirals and the safety of methods with respect to onward transmission to HIV-negative partners for women in sero-discordant partnerships. In general, most methods are safe for most women living with HIV. An understanding of the reproductive goals of each individual patient, as well as her medical condition and medication, should be taken into account when counselling women on their contraceptive options. Further research is needed to understand drug interactions between contraceptives and antiretrovirals better and how to fulfil the contraceptive needs of HIV-positive women.

  17. Lagophthalmos after facial palsy: current therapeutic options.

    Science.gov (United States)

    Vásquez, Luz María; Medel, Ramón

    2014-01-01

    As the facial nerve carries sensory, motor and parasympathetic fibres involved in facial muscle innervation, facial palsy results in functional and cosmetic impairment. It can result from a wide variety of causes like infectious processes, trauma, neoplasms, autoimmune diseases, and most commonly Bell's palsy, but it can also be of iatrogenic origin. The main ophthalmic sequel is lagophthalmos. The increased surface exposure increases the risk of keratitis, corneal ulceration, and potentially loss of vision. Treatment options are wide; some are temporary, some permanent. In addition to gold standard and traditional therapies and procedures, new options are being proposed aiming to improve not only lagophthalmos but also the quality of life of these patients. © 2014 S. Karger AG, Basel.

  18. Nonparametric estimation of employee stock options

    Institute of Scientific and Technical Information of China (English)

    FU Qiang; LIU Li-an; LIU Qian

    2006-01-01

    We proposed a new model to price employee stock options (ESOs). The model is based on nonparametric statistical methods with market data. It incorporates the kernel estimator and employs a three-step method to modify BlackScholes formula. The model overcomes the limits of Black-Scholes formula in handling option prices with varied volatility. It disposes the effects of ESOs self-characteristics such as non-tradability, the longer term for expiration, the early exercise feature, the restriction on shorting selling and the employee's risk aversion on risk neutral pricing condition, and can be applied to ESOs valuation with the explanatory variable in no matter the certainty case or random case.

  19. China's Energy Situation and Relative Policy Options

    Institute of Scientific and Technical Information of China (English)

    Qiu Baoxing

    2005-01-01

    @@ Energy isa burning issue of the day in China. This paper analyses the crucial reasons of energy shortage and traditional consumption models in China. Drawing from the experiences of some developed countries, the paper suggests that China should recognize the energy crisis by learning from America's"smart growth project" with the aim of transforming the city planning model,improving the public transportation and launching a "green building" movement in the country. All the policy options in this paper focus on the construction area, just because urbanization is now running at a peak capacity in China. The objective of the paper is to identify the relative policy options and actions in the nearest future.

  20. China's Energy Situation and Relative Policy Options

    Institute of Scientific and Technical Information of China (English)

    Qiu; Baoxing

    2005-01-01

      Energy isa burning issue of the day in China. This paper analyses the crucial reasons of energy shortage and traditional consumption models in China. Drawing from the experiences of some developed countries, the paper suggests that China should recognize the energy crisis by learning from America's"smart growth project" with the aim of transforming the city planning model,improving the public transportation and launching a "green building" movement in the country. All the policy options in this paper focus on the construction area, just because urbanization is now running at a peak capacity in China. The objective of the paper is to identify the relative policy options and actions in the nearest future.……

  1. Pseudotumor cerebri: An update on treatment options

    Directory of Open Access Journals (Sweden)

    Sarita B Dave

    2014-01-01

    Full Text Available Aims: The aim was to identify Pseudotumor cerebri treatment options and assess their efficacy. Setting and Design: Review article. Materials and Methods: Existing literature and the authors′ experience were reviewed. Results: Treatment options range from observation to surgical intervention. Weight loss and medical treatment may be utilized in cases without vision loss or in combination with surgical treatment. Cerebrospinal fluid shunting procedures and/or optic nerve sheath decompression is indicated for severe vision loss or headache unresponsive to medical management. The recent use of endovascular stenting of transverse sinus stenoses has also demonstrated benefit in patients with pseudotumor cerebri. Conclusion: While each treatment form may be successful individually, a multimodal approach is typically utilized with treatments selected on a case-by-case basis.

  2. 几种工业制氢方案的比选%Comparison and Selection of Several Industrial Hydrogen Production Options

    Institute of Scientific and Technical Information of China (English)

    汤金华

    2014-01-01

    阐述了甲醇制氢、水电解制氢、天然气制氢基本原理,并对这几种方案进行了比较,提出了选择制氢方案的基本原则和建议。%The paper introduces basic principles of hydrogen making from methanol, water electrolysis and natural gas, and comparison is made for these options, meanwhile, the paper puts forward basic principle and suggestions of selection of hydrogen production options.

  3. Asthma and Hispanic Americans

    Science.gov (United States)

    ... and Data > Minority Population Profiles > Hispanic/Latino > Asthma Asthma and Hispanic Americans In 2014, 2.1 million Hispanics reported that they currently have asthma. Puerto Rican Americans have almost twice the asthma ...

  4. American Hospice Foundation

    Science.gov (United States)

    American Hospice Foundation Skip to content Home Caregiving Learning About Hospice Grief Grieving Children Grief at School Grief at ... for all who come after us. The American Hospice Foundation (AHF) closed its doors in June 2014. ...

  5. American Society of Echocardiography

    Science.gov (United States)

    American Society of Echocardiography Join Ase Member Portal Log In Membership Member Portal Log In Join ASE Renew Benefits Rates FASE – Fellow of the American Society of Echocardiography Member Referral Program FAQs Initiatives Advocacy ...

  6. American Urogynecologic Society

    Science.gov (United States)

    ... Patient Site » PFD Registry » Contact Us American Urogynecologic Society 1100 Wayne Avenue, Suite 670 Silver Spring, MD ... Us | Privacy Policy | HONcode Accredited © 2016 American Urogynecologic Society. All rights reserved.

  7. American Vitiligo Research Foundation

    Science.gov (United States)

    ... life can acquire vitiligo Welcome to The American Vitiligo Foundation 2017 AVRF Calendars Order your calendar with ... animal testing. Please Visit Our Donations Page American Vitiligo Research Foundation "We Walk By Faith, Not By ...

  8. Obesity and Hispanic Americans

    Science.gov (United States)

    ... and Data > Minority Population Profiles > Hispanic/Latino > Obesity Obesity and Hispanic Americans Among Mexican American women, 77 ... ss6304.pdf [PDF | 3.38MB] HEALTH IMPACT OF OBESITY More than 80 percent of people with type ...

  9. Obesity and Asian Americans

    Science.gov (United States)

    ... and Data > Minority Population Profiles > Asian American > Obesity Obesity and Asian Americans Non-Hispanic whites are 60% ... youthonline . [Accessed 05/25/2016] HEALTH IMPACT OF OBESITY More than 80 percent of people with type ...

  10. The first American textbook of surgery.

    Science.gov (United States)

    Smythe, W Roy

    2003-04-01

    The first systematic textbook of surgery written in the United States, The Elements of Surgery, was completed in 1813 by John Syng Dorsey, a University of Pennsylvania surgeon. The work thoroughly covered all major clinical areas of surgery of that time in a two-volume, 797-page text. Subsequent editions were published in 1818, 1823, and 1831. It became the standard surgical textbook in this country during that era and was the first American medical text exported abroad for use at the more established European centers of medical education. The reasons for writing the text included a desire to put into print the teachings of Philip Syng Physick (first Chair of the Department of Surgery at the University of Pennsylvania, and Dorsey's uncle), the new American nationalism, and socioeconomic pressures forced on the American publishing industry by the War of 1812 and preceding trade embargoes. In addition to extensive exposure to Physick, Dorsey was also uniquely qualified to write and illustrate this text, as he exhibited an unusually succinct style and was a remarkable medical artist. The book was the forerunner to William Gibson's The Institutes and Practice of Surgery and all American surgical textbooks to follow.

  11. Money Multiplier under Reserve Option Mechanism

    OpenAIRE

    Halit AKTURK; Gocen, Hasan; Duran, Suleyman

    2015-01-01

    This paper introduces a generalized money (M2) multiplier formula to the literature for a monetary system with Reserve Option Mechanism (ROM). Various features of the proposed multiplier are then explored using monthly Turkish data during the decade 2005 to 2015. We report a step increase in the magnitude and a slight upward adjustment in the long-run trend of the multiplier with the adoption of ROM. We provide evidence for substantial change in the seasonal pattern of the multiplier, cash ra...

  12. RTGs Options for Pluto Fast Flyby Mission

    Energy Technology Data Exchange (ETDEWEB)

    Schock, Alfred

    1993-10-01

    A small spacecraft design for the Pluto Fast Flyby (PFF) Mission is under study by the Jet Propulsion Laboratory (JPL) for the National Aeronautics and Space Administration (NASA), for a possible launch as early as 1998. JPL's 1992 baseline design calls for a power source able to furnish an energy output of 3963 kWh and a power output of 69 watts(e) at the end of the 9.2-year mission. Satisfying those demands is made difficult because NASA management has set a goal of reducing the spacecraft mass from a baseline value of 166 kg to ~110 kg, which implies a mass goal of less than 10 kg for the power source. To support the ongoing NASA/JPL studies, the Department of Energy's Office of Special Applications (DOE/OSA) commissioned Fairchild Space to prepare and analyze conceptual designs of radioisotope power systems for the PFF mission. Thus far, a total of eight options employing essentially the same radioisotope heat source modules were designed and subjected to thermal, electrical, structural, and mass analyses by Fairchild. Five of these - employing thermoelectric converters - are described in the present paper, and three - employing free-piston Stirling converters - are described in the companion paper presented next. The system masses of the thermoelectric options ranged from 19.3 kg to 10.2 kg. In general, the options requiring least development are the heaviest, and the lighter options require more development with greater programmatic risk. There are four duplicate copies

  13. CORPORATE SOCIAL RESPONSIBILITY: OPTIONAL OR REGULATORY

    Directory of Open Access Journals (Sweden)

    MIHAELA IRINA IONESCU

    2012-05-01

    Full Text Available Given the collateral activity developed and the economic background of the present author I took the approach of a topic that includes aspects from both fields, namely “Corporate Social responsibility- optional or regulatory”. Through the paper I will try to summarize the pros and cons of regulation, mandatory of corporate social responsibility and to review, present the ways in which countries with advanced economies in European Union and the EU itself have addressed this issue.

  14. Design Options Study. Volume III. Qualitative Assessment.

    Science.gov (United States)

    1980-09-01

    would be obtained for a 500,000 lb- or 600,000 lb-payload- aircraft is uncertain. Assesment of De3ign-Option Substitutien TO summnarize the preceding...exhaust smoke and prohibit fuel venting to the atmosphere. In accordance with APR 80-36, as discussed previously in conjunction with the noise...Laboratory in terms of combustor efficiency, specific NO Xvalues, and specific levels Of Visible smoke . In the Most recent EPA proposals. emission

  15. Transfemoral socket design and suspension options.

    Science.gov (United States)

    Kapp, S L

    2000-08-01

    The transfemoral socket is the interface between the patient's residual limb and the remaining prosthesis. Whether the patient uses a technologically advanced knee mechanism and foot or a single axis, constant friction knee and solid ankle cushioned heel, no other prosthetic component is as crucial in assuring a comfortable and well-functioning prosthesis as the socket. This article discusses the rationale of quadrilateral and ischial containment socket designs and reviews suspension options.

  16. Valuing Joint Ventures Using Real Options

    OpenAIRE

    Ulrich Pape; Stephan Schmidt-Tank

    2005-01-01

    As the valuation of strategic measures becomes increasingly important, relatively few articles have discussed the valuation methods pertained for joint ventures. This paper shows that real options contribute to a better valuation of joint venture projects through superior reflection of the value drivers compared to traditional valuation methodology. Particularly, the strategic value of a joint venture and the value of flexibility that stems from a less than full commitment can be determined u...

  17. Real Options Analysis of Mining Projects

    OpenAIRE

    Rudolf Zdravlje

    2011-01-01

    When long life assets are being evaluated based on constant predictions of future variables and the assumptions of zero management flexibility, is value being missed? In project evaluation today, the most common evaluation methods that calculate a net present value are discounted cash flow (DCF) analysis, decision tree analysis and Monte Carlo simulation. A fourth method, which is beginning to gain ground in terms of its use in the mining industry, is real option analysis (ROA). ROA utilizes ...

  18. Contemporary and Novel Therapeutic Options for Hypertriglyceridemia.

    Science.gov (United States)

    Bell, Damon A; Watts, Gerald F

    2015-12-01

    The purpose of this review was to outline the current and emerging therapeutic options for the treatment of hypertriglyceridemia, with an emphasis on emerging therapies. A systematic literature search was conducted with the use of PubMed and Embase for articles on hypertriglyceridemia, with a focus on therapeutics, pharmacology, and management. Abstracts from recent international meetings were also reviewed for presentations of Phase I and II data on agents with triglyceride-lowering effects. A further review of the references identified from these articles was also performed. Consistent with the multifactorial cause of hypertriglyceridemia, the therapeutic options are broad and numerous. This review explores the current and potential therapeutic options for treating hypertriglyceridemia and outlines the potential mechanisms of action. However, the mechanism of triglyceride reduction is complex, multifactorial, or not fully elucidated for some of these agents. The magnitude of triglyceride reduction and findings of outcome studies are described. Management of hypertriglyceridemia is about to enter an exciting phase, with multiple emerging therapies in the final stages of development. However, caution is warranted, because studies of therapeutic agents over the previous decade have often not found cardiovascular outcome benefits despite encouraging effects on triglyceride concentrations. Copyright © 2015 Elsevier HS Journals, Inc. All rights reserved.

  19. 24-h Efficacy of Glaucoma Treatment Options.

    Science.gov (United States)

    Konstas, Anastasios G P; Quaranta, Luciano; Bozkurt, Banu; Katsanos, Andreas; Garcia-Feijoo, Julian; Rossetti, Luca; Shaarawy, Tarek; Pfeiffer, Norbert; Miglior, Stefano

    2016-04-01

    Current management of glaucoma entails the medical, laser, or surgical reduction of intraocular pressure (IOP) to a predetermined level of target IOP, which is commensurate with either stability or delayed progression of visual loss. In the published literature, the hypothesis is often made that IOP control implies a single IOP measurement over time. Although the follow-up of glaucoma patients with single IOP measurements is quick and convenient, such measurements often do not adequately reflect the untreated IOP characteristics, or indeed the quality of treated IOP control during the 24-h cycle. Since glaucoma is a 24-h disease and the damaging effect of elevated IOP is continuous, it is logical that we should aim to understand the efficacy of all treatment options throughout the 24-h period. This article first reviews the concept and value of diurnal and 24-h IOP monitoring. It then critically evaluates selected available evidence on the 24-h efficacy of medical, laser and surgical therapy options. During the past decade several controlled trials have significantly enhanced our understanding on the 24-h efficacy of all glaucoma therapy options. Nevertheless, more long-term evidence is needed to better evaluate the 24-h efficacy of glaucoma therapy and the precise impact of IOP characteristics on glaucomatous progression and visual prognosis.

  20. Identifying lubricant options for compressor bearing designs

    Science.gov (United States)

    Karnaz, J.; Seeton, C.; Dixon, L.

    2017-08-01

    Today’s refrigeration and air conditioning market is not only driven by the environmental aspects of the refrigerants, but also by the energy efficiency and reliability of system operation. Numerous types of compressor designs are used in refrigeration and air conditioning applications which means that different bearings are used; and in some cases, multiple bearing types within a single compressor. Since only one lubricant is used, it is important to try to optimize the lubricant to meet the various demands and requirements for operation. This optimization entails investigating different types of lubricant chemistries, viscosities, and various formulation options. What makes evaluating these options more challenging is the refrigerant which changes the properties of the lubricant delivered to the bearing. Once the lubricant and refrigerant interaction are understood, through various test methods, then work can start on collaborating with compressor engineers on identifying the lubricant chemistry and formulation options. These interaction properties are important to the design engineer to make decisions on the adequacy of the lubricant before compressor tests are started. This paper will discuss the process to evaluate lubricants for various types of compressors and bearing design with focus on what’s needed for current refrigerant trends. In addition, the paper will show how the lubricant chemistry choice can be manipulated through understanding of the bearing design and knowledge of interaction with the refrigerant to maximize performance. Emphasis will be placed on evaluation of synthetic lubricants for both natural and synthetic low GWP refrigerants.

  1. American Indian Recipes.

    Science.gov (United States)

    Gurnoe, Katherine J.; Skjervold, Christian, Ed.

    Presenting some 60 to 70 Native American recipes, this document includes a brief introduction and a suggested reading list (15 citations related to American Indian foods). The introduction identifies five regional Native American cuisines as follows: in the Southwest, peppers and beans were made into chili, soups, guacamole, and barbecue sauces by…

  2. A real options approach to the baseball game betting

    OpenAIRE

    Wang, Shin-Yun

    2013-01-01

    Applications of real options can be found in real assets, but not in sports. This article proposes the real options model and applies it to baseball games, allowing the option to switch between the two teams during the game. We believe this is the first attempt to apply the switching options to the baseball game scheme. To do so, we first design some rules in our assumptions and define variables that are relevant to the baseball options. We combine features of the wager volatility and options...

  3. NSGC practice guideline: prenatal screening and diagnostic testing options for chromosome aneuploidy.

    Science.gov (United States)

    Wilson, K L; Czerwinski, J L; Hoskovec, J M; Noblin, S J; Sullivan, C M; Harbison, A; Campion, M W; Devary, K; Devers, P; Singletary, C N

    2013-02-01

    The BUN and FASTER studies, two prospective multicenter trials in the United States, validated the accuracy and detection rates of first and second trimester screening previously reported abroad. These studies, coupled with the 2007 release of the American College of Obstetricians and Gynecologists (ACOG) Practice Bulletin that endorsed first trimester screening as an alternative to traditional second trimester multiple marker screening, led to an explosion of screening options available to pregnant women. ACOG also recommended that invasive diagnostic testing for chromosome aneuploidy be made available to all women regardless of maternal age. More recently, another option known as Non-invasive Prenatal Testing (NIPT) became available to screen for chromosome aneuploidy. While screening and testing options may be limited due to a variety of factors, healthcare providers need to be aware of the options in their area in order to provide their patients with accurate and reliable information. If not presented clearly, patients may feel overwhelmed at the number of choices available. The following guideline includes recommendations for healthcare providers regarding which screening or diagnostic test should be offered based on availability, insurance coverage, and timing of a patient's entry into prenatal care, as well as a triage assessment so that a general process can be adapted to unique situations.

  4. Introduction to the mathematics of finance from risk management to options pricing

    CERN Document Server

    Roman, Steven

    2004-01-01

    The Mathematics of Finance has become a hot topic in applied mathematics ever since the discovery of the Black-Scholes option pricing formulas in 1973. Unfortunately, there are very few undergraduate textbooks in this area. This book is specifically written for upper division undergraduate or beginning graduate students in mathematics, finance or economics. With the exception of an optional chapter on the Capital Asset Pricing Model, the book concentrates on discrete derivative pricing models, culminating in a careful and complete derivation of the Black-Scholes option pricing formulas as a limiting case of the Cox-Ross-Rubinstein discrete model. The final chapter is devoted to American options. The mathematics is not watered down but is appropriate for the intended audience. No measure theory is used and only a small amount of linear algebra is required. All necessary probability theory is developed in several chapters throughout the book, on a "need-to-know" basis. No background in finance is required, sinc...

  5. Numerical methods on European option second order asymptotic expansions for multiscale stochastic volatility

    Science.gov (United States)

    Canhanga, Betuel; Ni, Ying; Rančić, Milica; Malyarenko, Anatoliy; Silvestrov, Sergei

    2017-01-01

    After Black-Scholes proposed a model for pricing European Options in 1973, Cox, Ross and Rubinstein in 1979, and Heston in 1993, showed that the constant volatility assumption made by Black-Scholes was one of the main reasons for the model to be unable to capture some market details. Instead of constant volatilities, they introduced stochastic volatilities to the asset dynamic modeling. In 2009, Christoffersen empirically showed "why multifactor stochastic volatility models work so well". Four years later, Chiarella and Ziveyi solved the model proposed by Christoffersen. They considered an underlying asset whose price is governed by two factor stochastic volatilities of mean reversion type. Applying Fourier transforms, Laplace transforms and the method of characteristics they presented a semi-analytical formula to compute an approximate price for American options. The huge calculation involved in the Chiarella and Ziveyi approach motivated the authors of this paper in 2014 to investigate another methodology to compute European Option prices on a Christoffersen type model. Using the first and second order asymptotic expansion method we presented a closed form solution for European option, and provided experimental and numerical studies on investigating the accuracy of the approximation formulae given by the first order asymptotic expansion. In the present paper we will perform experimental and numerical studies for the second order asymptotic expansion and compare the obtained results with results presented by Chiarella and Ziveyi.

  6. Developing culturally sensitive cancer genetics communication aids for African Americans.

    Science.gov (United States)

    Baty, Bonnie Jeanne; Kinney, Anita Yeomans; Ellis, Sara Marie

    2003-04-15

    The goal of this project was to develop educational materials to communicate genetic health information in a culturally sensitive manner. These materials were designed to communicate information about cancer risk, genetic testing options, and health management options in an African American kindred with a known BRCA1 mutation. Educational materials were pilot-tested in four African American focus groups varying in socioeconomic status and gender. The audiotaped focus groups consisted of presentation of the educational materials, followed by a feedback session led by an African American facilitator. Qualitative analysis of the focus group transcripts identified important themes and the educational materials were revised in response to the participants' suggestions. The products included a booklet and a flip chart for use in educational sessions. Focus group participants recommended a substantial reduction in technical detail, and recommended that information be personalized and made relevant to the lives of the target population. Other critical themes included the importance of building trust in the medical system and avoiding words and images that have strong negative associations in the African American community. Strategies that were successful included nontechnical images to explain genetic concepts, clip art images to energize and personalize word slides, vibrant color, identifiably African American figures, and the development of themes relevant to many African Americans. The use of these materials in an ongoing study offering BRCA1 counseling and testing to a large, rural Louisiana-based kindred will provide additional feedback about the effectiveness of the culturally tailored genetic education and counseling materials.

  7. Homeschooling in America a Viable Option

    Science.gov (United States)

    Terry, Bobby K.

    2011-01-01

    Since prayer was banned from the public school systems in 1962 and all religious references have been censored, the American Public School System has become completely secular in nature. Children today face a great deal of peer pressure especially when bad behavior is constantly glamorized in both the media and the press. Because of the lack of…

  8. "Putting My Man Face on": A Grounded Theory of College Men's Gender Identity Development

    Science.gov (United States)

    Edwards, Keith E.; Jones, Susan R.

    2009-01-01

    The theory that emerged from this constructivist grounded theory study of 10 college men's experiences depicts their gender identity as developed through constant interaction with society's expectations of them as men. In order to try to meet these perceived expectations, participants described putting on a performance that was like wearing a mask…

  9. Hankook Tire Puts into Production in Chongqing Liangjiang New Area in September

    Institute of Scientific and Technical Information of China (English)

    Xue Ning

    2012-01-01

    The third factory of Hankook will be put into operation in Yufu Industrial Park, Liangjiang New Area, Chongqing early next month. With total investment of USD 950 million, the factory will produce 11.5 million units of tires annually upon total completion of the construction.

  10. Putting Organizational Unlearning into Practice: A Few Steps for the Practitioner

    Science.gov (United States)

    Reese, Simon

    2017-01-01

    This summary piece aims to provide a clear connection for leaders, managers or even individuals as they endeavor to put organizational unlearning into practice inside their organization. The author attempts to simplify the details from the diverse articles within this issue only with the aim of helping build an easier method for practical…

  11. Don't Get Rode Hard and Put Away Wet

    Science.gov (United States)

    Galloway, Robin

    2012-01-01

    Back in the old days, some folks reckoned an equine was just a disposable tool to get their jobs done. They might ride a horse hard, so it was sweaty, panting, and broken down. When done they would throw it out to pasture without proper grooming. This is probably the origin of the expression to "get rode hard and put away wet." As…

  12. Guangxi Shanglin Aluminum Plant cross-regional technical upgrade project(phase 1)put into operation

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    <正>The project(Phase 1)of cross-regional techni- cal upgrade of the aluminum plant of Guangxi Shanglin Nannan Industrial Co.was completed and put into operation on June 8,2007.The plant is a cross-regional technical upgrade pro- ject of Nanning Aluminum Plant,featuring the integration of coal,electricity and aluminum.

  13. Putting the social into commodity chains: what motivates smallholders to opt for inclusion?

    NARCIS (Netherlands)

    Clancy, Joy; Narayanaswamy, Avinash

    2014-01-01

    The emergence of the concept of sustainable development has put greater emphasis on economic activities that are socially and environmentally responsible. The social dimension of sustainable development reflects increasing interest in integrating poor people into global supply chains. This article b

  14. Muscle activation sequencing of leg muscles during linear glide shot putting.

    Science.gov (United States)

    Howard, Róisín M; Conway, Richard; Harrison, Andrew J

    2017-11-01

    In the shot put, the athlete's muscles are responsible for generating the impulses to move the athlete and project the shot into the air. Information on phasic muscle activity is lacking for the glide shot put event and therefore important technical information for coaches is not currently available. This study provides an electromyography (EMG) analysis of the muscle activity of the legs during shot put. Fifteen right-handed Irish national level shot putters performed six maximum effort throws using the glide shot put technique. EMG records of eight bilateral lower limb muscles (rectus femoris, biceps femoris, medial- and lateral-gastrocnemius) were obtained during trials. Analysis using smooth EMG linear envelopes revealed patterns of muscle activity across the phases of the throw and compare men and women performers. The results showed that the preferred leg rectus femoris, the preferred leg biceps femoris and the non-preferred leg biceps femoris play important roles in the glide technique, with the total duration of high volumes of activity between 34 and 53% of the throw cycle. A comprehensive understanding of movement and muscle activation patterns for coaches could be helpful to facilitate optimal technique throughout each of the key phases of the event.

  15. Access to data and material for research: Putting empirical evidence into perspective

    NARCIS (Netherlands)

    Rodriguez, V.

    2009-01-01

    The aim of this article is to put into critical perspective the empirical findings on secrecy and withholding in research. In other words, by taking existing empirical literature into account, it is intended that a crucial question is answered: Is secrecy and withholding in research harmful or innoc

  16. Don't Put Off Weight-Loss Surgery Till You're Heavier

    Science.gov (United States)

    ... news/fullstory_167433.html Don't Put Off Weight-Loss Surgery Till You're Heavier Best results seen ... 2017 WEDNESDAY, July 26, 2017 (HealthDay News) -- Having weight-loss surgery before you become severely obese tends to ...

  17. The Culture Paper Projects in Yueyang Paper all Put into Operation

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ The first production line, PM10 of the 400,000 tons culture paper project in Yueyang Paper Co., Ltd. successfully started up on August 18,2009, and the second line, PM9, successfully started up on October 13, 2009. Therefore, both paper lines of this project have started up and been put into production successfully.

  18. For Kids, Regular Exercise Seems to Put Depression on the Run

    Science.gov (United States)

    ... gov/news/fullstory_163445.html For Kids, Regular Exercise Seems to Put Depression on the Run Finding could be significant because ... said. The study didn't prove that regular exercise caused depression risk to drop. The study is published in ...

  19. Lurking on the Internet: A Small-Group Assignment that Puts a Human Face on Psychopathology

    Science.gov (United States)

    Lowman, Joseph; Judge, Abigail M.; Wiss, Charles

    2010-01-01

    Lurking on the Internet aims to put a human face on psychopathology for the abnormal psychology course. Student groups are assigned major diagnostic categories and instructed to search the Internet for discussion forums, individual blogs, or YouTube videos where affected individuals discuss their symptoms and lives. After discussing the ethics of…

  20. Putting It All Together: Guiding Principles for Quality After-School Programs Serving Preteens

    Science.gov (United States)

    Metz, Rachel A.; Goldsmith, Julie; Arbreton, Amy J. A.

    2008-01-01

    Successfully navigating early adolescence depends, in large part, on the availability of safe and engaging activities and supportive relationships with adults, yet many preteens have limited access to positive supports and opportunities such as high-quality after-school programs that could put them on a path to success. Funders, policymakers and…